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Kilroy Realty (KRC) Announces Seattle Lease with Amazon
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Kilroy Realty Corporation (KRC - Free Report) announced the execution of a long-term lease with Amazon.com, Inc. (AMZN - Free Report) . This lease for 12 years is at the company’s existing 320,000 square-foot Westlake Terry office project, which is in the South Lake Union neighborhood of greater Seattle.
The move depicts the solid demand for space at the company’s properties from reputed and fast growing companies like Amazon. Also, the South Lake Union submarket reflects strength and this lease ensures a steady cash flow from the property, for a longer term.
Notably, Kilroy Realty’s properties serve a vast range of active and innovation-driven tenants that help it to improve its top line. This includes tenants from technology, entertainment, digital media and health care companies. Currently, growth in demand for office space continues to be fueled by technology, life sciences and other creative tenants.
Earlier in November, Kilroy Realty announced that it has roped in the reputed software company – Adobe – as its anchor tenant for the 100 Hooper development. Specifically, the company broke ground on 100 Hooper – a $270 million, 400,000 square foot project in the SOMA district of San Francisco – and struck a long-term lease deal with Adobe. Per this deal, the software firm would occupy 207,000 square feet or around 65% of 100 Hooper’s office space.
Moreover, the company has a solid expertise of nearly 70 years in the West Coast real estate market and as of Sep 30, 2016, its stabilized portfolio aggregated 13.6 million square feet of office properties, positioned in the coastal regions of greater Seattle, the San Francisco Bay Area, Los Angeles, Orange County and San Diego.
Further, the company has been a steady performer, having beaten the Zacks Consensus Estimates in each of the trialing four quarters, with an average surprise of 2.36%. Also, its estimates for full-year 2016 and 2017 have inched up by 1.5% and 0.8% to $3.45 and $3.65, respectively, over the past 60 days.
Amid this, shares of Kilroy Realty have logged in a gain of 19.6% against the 4.2% increase of the Zacks categorized REIT – Equity Trust – Other industry year to date.
Kilroy Realty currently has a Zacks Rank #3 (Hold).
DCT Industrial delivered an average positive surprise of 5.18% over the trailing four quarters.
Mack-Cali’s 2016 estimates ascended 1.4% over the past 30 days to $2.19.
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Kilroy Realty (KRC) Announces Seattle Lease with Amazon
Kilroy Realty Corporation (KRC - Free Report) announced the execution of a long-term lease with Amazon.com, Inc. (AMZN - Free Report) . This lease for 12 years is at the company’s existing 320,000 square-foot Westlake Terry office project, which is in the South Lake Union neighborhood of greater Seattle.
The move depicts the solid demand for space at the company’s properties from reputed and fast growing companies like Amazon. Also, the South Lake Union submarket reflects strength and this lease ensures a steady cash flow from the property, for a longer term.
Notably, Kilroy Realty’s properties serve a vast range of active and innovation-driven tenants that help it to improve its top line. This includes tenants from technology, entertainment, digital media and health care companies. Currently, growth in demand for office space continues to be fueled by technology, life sciences and other creative tenants.
Earlier in November, Kilroy Realty announced that it has roped in the reputed software company – Adobe – as its anchor tenant for the 100 Hooper development. Specifically, the company broke ground on 100 Hooper – a $270 million, 400,000 square foot project in the SOMA district of San Francisco – and struck a long-term lease deal with Adobe. Per this deal, the software firm would occupy 207,000 square feet or around 65% of 100 Hooper’s office space.
Moreover, the company has a solid expertise of nearly 70 years in the West Coast real estate market and as of Sep 30, 2016, its stabilized portfolio aggregated 13.6 million square feet of office properties, positioned in the coastal regions of greater Seattle, the San Francisco Bay Area, Los Angeles, Orange County and San Diego.
Further, the company has been a steady performer, having beaten the Zacks Consensus Estimates in each of the trialing four quarters, with an average surprise of 2.36%. Also, its estimates for full-year 2016 and 2017 have inched up by 1.5% and 0.8% to $3.45 and $3.65, respectively, over the past 60 days.
Amid this, shares of Kilroy Realty have logged in a gain of 19.6% against the 4.2% increase of the Zacks categorized REIT – Equity Trust – Other industry year to date.
Kilroy Realty currently has a Zacks Rank #3 (Hold).
Investors interested in the REIT industry can consider stocks like DCT Industrial Trust and Mack-Cali Realty Corp. . Both these stocks have a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DCT Industrial delivered an average positive surprise of 5.18% over the trailing four quarters.
Mack-Cali’s 2016 estimates ascended 1.4% over the past 30 days to $2.19.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>