Kilroy Realty acquires San Francisco development site
Kilroy Realty Corp. has acquired a development site in the South of Market Area of San Francisco for approximately $78 million. The seller was Rockwood Capital.
The 3.3-acre site, located at 100 Hooper St., is fully designed and entitled for the development of a LEED gold, low-rise, mixed-use creative campus that will consist of approximately 450,000 square feet. KRC intends to commence construction at 100 Hooper later this year, subject to market conditions.
KRC will develop and own two concrete buildings with large floor plates totaling approximately 400,000 square feet with a total projected investment of approximately $250 million. The project will be approximately 80 percent office space and 20 percent PDR (production, distribution and repair) space.
As part of the transaction, the land will be subdivided and an additional approximately 50,000 square feet of stand-alone PDR space is expected to be owned and managed by PlaceMade, a nonprofit subsi