"The three-story, 300,000 square-foot office space marked the company's entry to the wealthy Westside, and it might have given Aman one of the best earnings-call talking points since she took the CEO's job nearly two years ago. Maple Plaza was 75 percent leased at the time of purchase, and has since become the strongest driver of leasing activity in our Los Angeles portfolio, Aman said on the call."
"Aman and her crew told analysts and others on the call that the $5 billion company has inked more than 550,000 square feet of leases, new and renewals. Then she showed the other side of her CEO chops managing expectations for next year, when 970,000 square feet of leases are set to expire. The company was staring at 1.9 million square feet before it locked down occupancy for about half the space with renewals."
Kilroy Realty reported net income of $156.2 million for the quarter ended Sept. 30, up from $52.4 million a year earlier, while revenue declined slightly to $279.7 million. The company bought Maple Plaza, a three-story, 300,000-square-foot Beverly Hills office campus for $205 million; it was 75 percent leased and has driven Los Angeles leasing. Kilroy's Los Angeles portfolio includes 53 properties and more than 4.5 million rentable square feet at about 74 percent occupancy. Management has signed over 550,000 square feet of new and renewed leases, reduced looming expirations from 1.9 million to 970,000 square feet, and now anticipates roughly 500,000 square feet of move-outs in 2026 while pursuing new leasing. Shares rose on the earnings report.
Read at therealdeal.com
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