Bisnow sources tell us John Hancock Real Estate is poised to make huge inroads into San Diego's office market—thanks to Kilroy Realty.
Kilroy is under contract to sell John Hancock a portfolio of nearly 1M SF of prime local office space, sources tell us. Terms of the deal were not disclosed, but Bisnow sources say Kilroy will detail the transaction in its next earnings report. News of the deal comes just days before Kilroy Chairman John Kilroy will present a keynote speech at our San Diego Investment Summit 8 am this Thursday at The Heights at Del Mar (info and tickets here).
The deal includes Governor Pointe at 6200 and 6220 Greenwich Dr (here), 400k SF in the Governor Park submarket and 10770 Wateridge Cir, a 180k SF office building home to L3 Communications in Sorrento Mesa. Officials with both Kilroy and John Hancock did not return calls. John Hancock already owns 14 properties in the area, encompassing nearly 2M SF (356k SF of which is office), including Seaview Corporate Center and Torrey Pines, a 190k SF office building off Sorrento Valley Boulevard.
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