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350 MISSION SALE SUCCESS

Kilroy recently acquired 350 Mission Street in the heart of SoMa and plans to build a 27-story, 400k SF office tower, aiming for LEED Platinum. We know much of the property Kilroy acquired in the city over the past two years has been existing buildings that it renovated, so we asked Allen Matkins partner Pete Roth and colleague Liz Bosch (they repped Kilroy on the deal; Allen Matkins is also a Bisnowsponsor) why go ground-up now? They remind us ?Kilroy at its core is a developer.? It purchased the fully entitled project from 350 Mission Street, an entity controlled by GLL Real Estate Partners, for $52M. Kilroy will invest an additional $200M to develop the spec tower, adapting the company's collaborative workspace philosophy to a high-rise environment with floor-to-ceiling windows and column-free floor plates.

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