Kilroy Expands in Seattle With Three-Building $145M Buy

SEATTLE-Kilroy Realty Corp. has completed the purchase of two office properties in the Lake Union submarket of Seattle and expects to complete the acquisition of a Bellevue property in the third quarter, subject to customary closing conditions. According to a prepared statement, these acquisitions will nearly double the West Coast real estate investment trust’s office portfolio in high growth submarkets of the Puget Sound Region.

In three separate transactions, KRC has acquired or expects to acquire properties in Lake Union and Bellevue aggregating approximately 837,000 square feet of space for a total purchase price of approximately $330 million. Since its reentry into the Seattle market in 2010, including these transactions, KRC will acquire approximately 1.7 million square feet of office space in the Puget Sound Region and has established a locally-based operating platform with seasoned management to expand and manage its portfolio there.