LOS ANGELES Feb. 22, 2001 (PRIMEZONE) -- Kilroy Realty Corporation (NYSE:KRC) has selected Insignia/ESG to lease the third building of its Westside Media Center complex located at the southwest corner of Olympic Boulevard and Bundy Drive. The Century City-based team of Hunt Barnett, Chris Houge and Richard Buckley will represent Kilroy's 151,000-square-foot Phase III, which is currently under construction and scheduled for completion in January 2002, as well as Kilroy's 151,000 square feet Phase II to the extent that space becomes available.
"West Los Angeles continues to enjoy strong demand and low vacancy rates," noted Hugh Greenup, executive vice president of development for Kilroy Realty. "The concept of this new urban campus has been extremely well received, and we are excited about the high level of interest in Westside Media Center from strong companies that have proven their ability in the marketplace."
The four-story Phase III building design complements Phase II, with dramatic architecture, large open floor plates, nearly 15-foot-high ceilings and state-of-the-art communications infrastructure such as fiber optics to accommodate broader bandwidth transmissions. HKS Architects, Inc. designed Westside Media Center using contemporary configurations of glass, concrete and metal for the modern structures. The campus environment encompasses one-and-a-half acres of landscaped public spaces that include seating areas, gardens and fountains.
Kilroy Realty Corporation is a southern California-based real estate investment trust active in the office and industrial property sectors. For more than 50 years, the company has owned, developed, acquired and managed real estate assets in the coastal regions of California and Washington. Principal submarkets for KRC's current development projects include Calabasas, West Los Angeles, El Segundo and coastal San Diego, where the company's total development pipeline exceeds $480 million. At December 31, 2000, the company owned 6.6 million square feet of commercial office space and 5.8 million square feet of industrial space. More information on Kilroy Realty can be found at www.kilroyrealty.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Kilroy Realty Corp.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.