Kilroy Realty Corp. has paid $308 million for the 2.5 million-square-foot Oyster Point Development site in South San Francisco.
KRC said it plans to develop, over multiple phases, a state-of-the-art laboratory and office complex that will eventually encompass 11 buildings spread across a nearly 40-acre waterfront site.
Situated at the intersection of Oyster Point and Marina boulevards along the northern corridor of South San Francisco, the site is immediately adjacent to the company’s existing three-building Oyster Point Tech Center. On a combined basis, the overall project will have a meaningful footprint in South San Francisco’s large and rapidly growing life science community, home to more than 200 biotech companies, including such legendary companies as Genentech and Amgen. Market fundamentals reflect the growing attraction of South San Francisco’s life science community, with the region’s class A office and laboratory space vacancy rate at less than 3 perc
