"Kilroy's strength is in designing and building a quality product that is flexible, efficient and can accommodate a wide array of users such as Ericsson," says Steve Scott, SVP of Kilroy Realty. "We had a number of prospective tenants from various industries and of varied sizes, and we focused on strong, well-established companies with a leadership role within their industries."
Reno Contracting finished core and shell construction in December, andJohnson and Jennings will complete the interior build-out by April.
Brian Driscoll and Eric Northbrook of Colliers represented Kilroy in the transaction and Tom Maloney of Cushman Realty represented Ericsson.
"The Sorrento Mesa market remains very strong with a 95% occupancy, with no new speculative development of campus-style office buildings and continued strong demand for this type of product," Scott says. "We started construction on this phase of Pacific Technology Center without a tenant commitment, but leased the building at a higher rate and faster than we expected to a top-flight multinational company."
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