In the commercial real estate market, being opportunistic and disciplined is key to growth. Now combine those qualities with smarts, patience and persistence and you have the formula for Kilroy Realty Corporation's 60-year path of success on the West Coast. These decades of experience have taught KRC the wisdom of mastering the disciplines of their profession, and their core competencies demonstrate their commitment to the industry, which include: property and land acquisition, financing and property development, construction management, leasing and property operations, and long-term strategic portfolio development.
Operating in Southern California, one of the most dynamic economic regions of the world, has shaped the business strategy at KRC and because of that many of their tenants have done business with KRC for decades, even as their real estate needs change. Today, KRC operates a portfolio of high quality commercial properties totaling more than 15 million square feet from Seattle to San Diego, serving a diversified roster of industries, including technology, telecommunications, engineering, entertainment, healthcare, biotechnology, and professional services.
As long-term owners of the properties they develop, KRC shares a common interest with their clients to build environments that optimize resource use and are equipped with state-of-the-market infrastructure and amenities, often accommodating the specific needs of individual tenants yet still offering flexible interior floor plates and plans that can adapt as tenant needs change.
One of KRC's current undertaking is the One Paseo neighborhood development project in Carmel Valley. In an effort to address existing traffic problems with 21st-century solutions, Kilroy Realty is investing more than $6 million to improve the transportation system, including a state-of-the-art synchronized signal-timing system on Del Mar Heights Road to help maintain eastbound and westbound traffic flow. In addition, this mixed-use project (residential, commercial and retail) will potentially reduce car trips by as much as 40 percent.
"We're seeing a trend in more mixed-use projects here, driven by the millennial and baby boomer generations, whom are the largest demographic population segment," says Robert Little, VP of Development for KRC. "They share the same strong desire to be sustainable in their lifestyle which is also driving the companies they work for to seek the same thing — location efficiency is what's driving that demand for mixed-use projects."
One Paseo builds in ample free parking for retail visitors, provides multiple EV charging stations, free valet parking, cyclist-friendly amenities, a bike route/bike path plan, one or two stops for a future rapid bus route, pedestrian-friendly sidewalks, crosswalks and paseos as well as a local proposed shuttle loop.
KRC is in the approval stage of the project, looking to begin public hearings in early 2014 and hope to break ground near end of 2014 once they're able to get all steps of approval completed.
Looking at the properties they develop to minimize the impact on the environment, KRC has also become a leading proponent of LEED-certified design, development and property operation. In recent years, KRC has built substantially all of their new development projects to LEED specifications and achieved gold or silver certification levels for several buildings. From Kilroy's self-initiated energy improvement projects in 2012 alone, they saved nearly 5 million kilowatts of power, which is the equivalent of planting 86,000 trees and letting them grow for 10 years. KRC believes these efforts reward their tenants with a superior workplace environment that can generate higher productivity, superior employee retention and an overall better experience.
3661 Valley Centre Drive Suite 250 | san Diego, CA 92130 | (858) 523-0300 | www.kilroyrealty.com
By Jada Thomas, The Daily Transcript
3611 Valley Centre Dr. Ste., 550
San Diego, CA 92130
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