{"id":31708,"date":"2018-06-13T16:17:45","date_gmt":"2018-06-13T13:17:45","guid":{"rendered":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/?p=31708"},"modified":"2018-06-13T16:17:45","modified_gmt":"2018-06-13T13:17:45","slug":"kilroy-realty-nabs-308m-oyster-point-life-science-development-site","status":"publish","type":"post","link":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2018\/06\/13\/kilroy-realty-nabs-308m-oyster-point-life-science-development-site\/","title":{"rendered":"Kilroy Realty Nabs $308M Oyster Point Life Science Development Site"},"content":{"rendered":"

Last week, Kilroy Realty Corp. announced that it has completed the acquisition of a life science development site in South San Francisco<\/a>. Fully entitled for 2.5 million square feet, the 40-acre site was purchased for $308 million and named \u201cKilroy Oyster Point.\u201d It will eventually host an 11-building laboratory and office complex, adjacent to the company\u2019s already existing Oyster Tech Center.<\/p>\n

Located at the intersection of Oyster Point<\/a> and Marina boulevards, the site was previously owned by Oyster Point Development, a subsidiary of Greenland USA. According to Bisnow<\/em><\/a>, the developer had a $2 billion plan for it, consisting of 1,200 housing units. The project got halted after new Chinese government regulations regarding big overseas investments came into play.<\/p>\n

John Kilroy, KRC chairman and CEO, stated about the acquisition: \u201cKilroy Oyster Point<\/a> is a significant opportunity to expand our West Coast life science platform in a prudent and disciplined manner. It offers all the advantages we look for in new development\u2014a strong location in a world-class market serving a dynamic industry with all the services and amenities required to attract today\u2019s young, urban innovative workforce.\u201d<\/p>\n

The South San Francisco office<\/a> and laboratory scene is booming right now, as the vacancy rate for this kind of space is below 3%. More than 200 biotech companies, including Genentech and Amgen, are based here, and this sector will continue to attract investors, as it offers easy access to talent from universities like UC San Francisco, UC Berkeley and Stanford.<\/p>\n","protected":false},"excerpt":{"rendered":"

Last week, Kilroy Realty Corp. announced that it has completed the acquisition of a life science development site in South San Francisco. Fully entitled for 2.5 million square feet, the 40-acre site was purchased for $308 million and named \u201cKilroy Oyster Point.\u201d It will eventually host an 11-building laboratory and office complex, adjacent to the…<\/p>\n","protected":false},"author":61,"featured_media":31754,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[738,402],"tags":[],"class_list":["post-31708","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-california-real-estate","category-san-francisco-real-estate"],"yoast_head":"\nKilroy Realty Nabs $308M Oyster Point Life Science Development Site - PropertyShark Real Estate Blog<\/title>\n<meta name=\"description\" content=\"Kilroy Realty Corp. announced that it has completed the acquisition of a life science development site in South San Francisco. Fully entitled for 2.5 million square feet, the 40-acre site was purchased for $308 million and named \u201cKilroy Oyster Point.\u201d\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2018\/06\/13\/kilroy-realty-nabs-308m-oyster-point-life-science-development-site\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kilroy Realty Nabs $308M Oyster Point Life Science Development Site\" \/>\n<meta property=\"og:description\" content=\"Kilroy Realty Corp. announced that it has completed the acquisition of a life science development site in South San Francisco. Fully entitled for 2.5 million square feet, the 40-acre site was purchased for $308 million and named \u201cKilroy Oyster Point.\u201d\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2018\/06\/13\/kilroy-realty-nabs-308m-oyster-point-life-science-development-site\/\" \/>\n<meta property=\"og:site_name\" content=\"PropertyShark Real Estate Blog\" \/>\n<meta property=\"article:published_time\" content=\"2018-06-13T13:17:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2018\/06\/oysterpoint.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Alexandra Farcas\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Alexandra Farcas\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Kilroy Realty Nabs $308M Oyster Point Life Science Development Site - PropertyShark Real Estate Blog","description":"Kilroy Realty Corp. announced that it has completed the acquisition of a life science development site in South San Francisco. 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