"Kilroy Realty's earnings last quarter were fair to middling as office and life sciences occupancy slackened further across its 17.1-million-square-foot portfolio."
"Kilroy CEO Angela Aman expressed confidence in San Francisco's leasing activity citing the AI boom and city proposals to return to in-person work."
"Data analytics platform Amplitude renewed a significant amount of space at Kilroy's 201 Third Street, their largest lease in San Francisco since 2019."
"Kilroy's portfolio occupancy fell to 81.4% last quarter, despite signing 248,000 square feet in leases, highlighting ongoing challenges in the market."
Kilroy Realty's recent financial report reveals a decline in earnings and occupancy across its 17.1-million-square-foot real estate portfolio spanning major California cities. The company's funds from operations reached $122.3 million, marking an 8.5% decrease from last year. CEO Angela Aman remains optimistic about growth in San Francisco, driven by the burgeoning AI sector and city prompts for increased in-person work. Notably, major leases were signed, indicating potential recovery despite current occupancy challenges, as the overall percentage dipped to 81.4% from previous quarters.
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