LOS ANGELES--(BUSINESS WIRE)--Kilroy Realty Corporation (NYSE: KRC) today announced that veteran life science real estate professional Tracy Murphy will join Kilroy Realty Corporation (“KRC”) as Executive Vice President, Life Science effective July 11, 2016.
At KRC, Ms. Murphy will be responsible for the company’s life science activities along the West Coast, an area that includes four of the top ten U.S. life science markets. The company currently has approximately 1.5 million square feet of life science properties either stabilized or in development and Ms. Murphy will lead the leasing program for these assets as well as identify and pursue new development and acquisition opportunities in the San Diego, Los Angeles, San Francisco Bay Area and greater Seattle markets.
Ms. Murphy was formerly Senior Vice President and West Coast Lead for BioMed Realty and a member of the Executive Committee. She was responsible for the strategic objectives for the Western U.S. for BioMed, including development, acquisitions, leasing and managing a ten million square foot, $4 billion portfolio. She has worked in the life science real estate market for 14 years with the last eight years at BioMed in San Diego. Ms. Murphy successfully signed hundreds of leases with over 115 different life science companies across the West Coast, including biotech leaders The J. Craig Venter Institute, Illumina, Human Longevity, Affymetrix, NovoNordisk, Nanostring, Regulus, Celgene (formerly Receptos), Halozyme, Vertex and UCSD. Before joining BioMed, Murphy co-founded the life science practice for Grubb & Ellis where she educated brokers on the unique real estate needs of life science companies. Ms. Murphy also serves on the Executive Board of Directors for BIOCOM.
About Kilroy Realty Corporation. With almost 70 years’ experience owning, developing, acquiring and managing real estate assets in West Coast real estate markets, Kilroy Realty Corporation (KRC), a publicly traded real estate investment trust and member of the S&P MidCap 400 Index, is one of the region’s premier landlords. The company provides physical work environments that foster creativity and productivity and serves a broad roster of dynamic, innovation-driven tenants, including technology, entertainment, digital media and health care companies.
At March 31, 2016, the company’s stabilized portfolio totaled 13.7 million square feet of office properties, all located in the coastal regions of greater Seattle, the San Francisco Bay Area, Los Angeles, Orange County and San Diego. The company is recognized by GRESB as the North American leader in sustainability, ranking first among 155 North American participants across all asset types. At the end of the first quarter, the company’s properties were 46% LEED certified and 66% of eligible properties were ENERGY STAR certified. In addition, KRC had approximately 905,000 square feet of office and residential projects under construction with a total estimated investment of approximately $645.0 million. More information is available at http://www.kilroyrealty.com.
Forward-Looking Statements. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results and events may vary materially from those indicated in forward-looking statements, and you should not rely on forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in forward-looking statements, including, among others, risks associated with: investment in real estate assets, which are illiquid; trends in the real estate industry; significant competition, which may decrease the occupancy and rental rates of properties; the ability to successfully complete acquisitions and dispositions on announced terms; the ability to successfully operate acquired properties; the availability of cash for distribution and debt service and exposure of risk of default under debt obligations; adverse changes to, or implementations of, applicable laws, regulations or legislation; and the ability to successfully complete development and redevelopment projects on schedule and within budgeted amounts. These factors are not exhaustive. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption “Risk Factors” in our annual report on Form 10-K for the year ended December 31, 2015 and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on information that was available, and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this press release that becomes untrue because of subsequent events, new information or otherwise, except to the extent required in connection with ongoing requirements under U.S. securities laws.