Kilroy Realty Agrees To Sell The Exchange On 16th For $1.08 Bln - Quick Facts

(RTTNews) - Kilroy Realty Corp. (KRC) said that it agreed to sell The Exchange on 16th, the company's 750,000 square-foot office property located at 1800 Owens Street in San Francisco's Mission Bay neighborhood, for $1.08 billion or about $1,440 per square foot.

The transaction is currently in escrow and expected to close at the end of March.

Kilroy Realty said it will use the sale proceeds to fund development, for acquisitions, and for other general corporate purposes, including potentially paying down debt, repurchasing stock or paying a special dividend to the company's common stockholders.