Kilroy Launches Speculative Project in Anaheim
El Segundo-based real estate investment trust Kilroy Realty Corp. is building what will be one of north Orange County’s largest speculative projects in recent years.
The company recently purchased a 30-acre site near Kraemer Boulevard and Tustin Street in Anaheim from Boeing North American where the first phase of a 380,000-square-foot, five-building business park has begun.
Koll Real Estate Group of Newport Beach has been hired to build the $30-million project, which will eventually total 575,000 square feet. It is scheduled for completion in July.
Kilroy received $1.3 million in construction aid from the Anaheim Redevelopment Agency because the project is expected to attract higher-wage manufacturing and assembly jobs to the area. So far, no tenants have been signed.
The acquisition follows Koll’s purchase in June of an adjacent tract from Boeing. There, it is building a 315,000-square-foot warehouse and distribution complex.
