Kilroy, Koll to Build Burbank Business Park

Kilroy Realty Corp. and Koll Real Estate Group will jointly develop a 1-million-square-foot business park near the Burbank-Glendale-Pasadena Airport, as rapidly growing entertainment companies have gobbled up much of the available commercial space in the area. The low-rise office complex is expected to open in mid-1999 and will be built on the site of a former factory and research plant operated by Lockheed Corp. (now Lockheed Martin Corp.). The city of Burbank had hoped to lure new entertainment studio DreamWorks SKG to the site if it decided to pull out of the Playa Vista development near Marina del Rey. The Kilroy-Koll office project will be part of the 103-acre Empire Center development, where a shopping center and auto dealership have been proposed. Phoenix-based Vestart Development Co. agreed last year to purchase the 103-acre property, which is undergoing an environmental cleanup, from Lockheed Martin.