KILROY REALTY CORP

For the period ended Dec 31, 2023. Filed Feb 9, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 9, 2024

KRC$35.89-2.8%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Schedule III – Real Estate and Accumulated Depreciation

KILROY REALTY CORPORATION AND KILROY REALTY, L.P

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION

Initial Cost · Gross Amounts at WhichCarried at Close of Period
Property Location · Encumb-rances · Land and Improve-ments · BuildingsandImprove-ments · CostsCapitalizedSubsequent toAcquisition/Improvement · Land and Improve-ments · BuildingsandImprove-ments · Total · AccumulatedDepreciation · Depreci-ationLife (1) · Date ofAcquisition(A)/Construction(C) (2) · RentableSquareFeet (3)(unaudited)
($ in thousands)
Office Properties:
3101 - 3243 S. La Cienega Blvd., Culver City, CA			$150,718	$31,033	$1,856	$150,718	$32,889	$183,607	$20,163	35	2019	A	166,207
2240 E. Imperial Highway, El Segundo, CA			1,044	11,763	29,928	1,048	41,687	42,735	31,759	35	1983	C	122,870
2250 E. Imperial Highway, El Segundo, CA			2,579	29,062	36,750	2,547	65,844	68,391	61,662	35	1983	C	298,728
2260 E. Imperial Highway, El Segundo, CA			2,518	28,370	37,076	2,547	65,417	67,964	25,231	35	2012	C	298,728
909 N. Pacific Coast Highway, El Segundo, CA			3,577	34,042	56,012	3,565	90,066	93,631	55,148	35	2005	C	244,880
999 N. Pacific Coast Highway, El Segundo, CA			1,407	34,326	18,722	1,407	53,048	54,455	33,803	35	2003	C	138,389
1350 Ivar Ave., Los Angeles, CA			1,575	—	14,193	1,575	14,193	15,768	1,282	35	2020	C	16,448
1355 Vine St., Los Angeles, CA			17,588	—	121,115	17,588	121,115	138,703	11,167	35	2020	C	183,129
1375 Vine St., Los Angeles, CA			15,578	—	103,942	15,578	103,942	119,520	9,536	35	2020	C	159,236
1395 Vine St., Los Angeles, CA			278	—	3,271	278	3,271	3,549	294	35	2020	C	2,575
1500 N. El Centro Ave., Los Angeles, CA (4)			9,235	21	61,932	9,235	61,953	71,188	17,709	35	2016	C	113,447
1525 N. Gower St., Los Angeles, CA (4)			1,318	3	9,768	1,318	9,771	11,089	2,570	35	2016	C	9,610
1575 N. Gower St., Los Angeles, CA (4)			22,153	51	119,769	22,153	119,820	141,973	26,547	35	2016	C	264,430
6115 W. Sunset Blvd., Los Angeles, CA (4)			1,313	3	17,409	2,455	16,270	18,725	5,545	35	2015	C	26,238
6121 W. Sunset Blvd., Los Angeles, CA (4)			11,120	4,256	44,167	8,703	50,840	59,543	13,304	35	2015	C	93,418
6255 W. Sunset Blvd., Los Angeles, CA			18,111	60,320	53,475	18,111	113,795	131,906	58,714	35	2012	A	332,100
3750 Kilroy Airport Way, Long Beach, CA			—	1,941	13,645	—	15,586	15,586	12,686	35	1989	C	10,718
3760 Kilroy Airport Way, Long Beach, CA			—	17,467	23,013	—	40,480	40,480	32,535	35	1989	C	166,761
3780 Kilroy Airport Way, Long Beach, CA			—	22,319	39,083	—	61,402	61,402	48,266	35	1989	C	221,452
3800 Kilroy Airport Way, Long Beach, CA			—	19,408	24,516	—	43,924	43,924	31,475	35	2000	C	192,476
3840 Kilroy Airport Way, Long Beach, CA			—	13,586	29,143	—	42,729	42,729	19,775	35	1999	C	138,441
3880 Kilroy Airport Way, Long Beach, CA			—	9,704	12,202	—	21,906	21,906	7,278	35	2013	C	96,923
3900 Kilroy Airport Way, Long Beach, CA			—	12,615	17,754	—	30,369	30,369	22,085	35	1997	A	130,935
8560 W. Sunset Blvd., West Hollywood, CA			9,720	50,956	7,497	9,720	58,453	68,173	14,898	35	2016	A	76,558
8570 W. Sunset Blvd., West Hollywood, CA			31,693	27,974	7,266	31,693	35,240	66,933	8,817	35	2016	A	49,276
8580 W. Sunset Blvd., West Hollywood, CA			10,013	3,695	1,828	10,013	5,523	15,536	1,558	35	2016	A	6,875
8590 W. Sunset Blvd., West Hollywood, CA			39,954	27,884	5,769	39,954	33,653	73,607	8,532	35	2016	A	56,750
12100 W. Olympic Blvd., Los Angeles, CA	$156,386	(5)	352	45,611	26,036	9,633	62,366	71,999	36,818	35	2003	C	155,679
12200 W. Olympic Blvd., Los Angeles, CA		(5)	4,329	35,488	27,917	3,977	63,757	67,734	49,193	35	2000	C	154,544
12233 W. Olympic Blvd., Los Angeles, CA			22,100	53,170	6,909	22,100	60,079	82,179	22,114	35	2012	A	156,746
12312 W. Olympic Blvd., Los Angeles, CA		(5)	3,325	12,202	12,671	3,399	24,799	28,198	19,563	35	1997	A	76,644
2100/2110 Colorado Ave., Santa Monica, CA			5,474	26,087	18,285	5,476	44,370	49,846	31,892	35	1997	A	104,853
501 Santa Monica Blvd., Santa Monica, CA			4,547	12,044	19,357	4,551	31,397	35,948	23,853	35	1998	A	78,509
12225 El Camino Real, Del Mar, CA			1,700	9,633	4,434	1,673	14,094	15,767	10,912	35	1998	A	58,401

F - 57

Initial Cost · Gross Amounts at WhichCarried at Close of Period
Property Location · Encumb-rances · Land and Improve-ments · BuildingsandImprove-ments · CostsCapitalizedSubsequent toAcquisition/Improvement · Land and Improve-ments · BuildingsandImprove-ments · Total · AccumulatedDepreciation · Depreci-ationLife (1) · Date ofAcquisition(A)/Construction(C) (2) · RentableSquareFeet (3)(unaudited)
($ in thousands)
12235 El Camino Real, Del Mar, CA			1,507	8,543	9,985	1,540	18,495	20,035	13,792	35	1998	A	53,751
12340 El Camino Real, Del Mar, CA			4,201	—	35,629	4,201	35,629	39,830	4,585	35	2022	C	109,307
12390 El Camino Real, Del Mar, CA			3,453	11,981	12,348	3,453	24,329	27,782	14,393	35	2000	C	73,238
12770 El Camino Real, Del Mar, CA			9,360	—	35,029	9,360	35,029	44,389	8,314	35	2016	C	75,035
12780 El Camino Real, Del Mar, CA			18,398	54,954	24,127	18,398	79,081	97,479	28,749	35	2013	A	140,591
12790 El Camino Real, Del Mar, CA			10,252	21,236	17,031	10,252	38,267	48,519	12,315	35	2013	A	87,944
12830 El Camino Real, Del Mar, CA	$375,000	(6)	28,645	—	113,007	28,645	113,007	141,652	12,713	35	2021	C	196,444
12860 El Camino Real, Del Mar, CA		(6)	11,326	—	51,844	11,326	51,844	63,170	6,012	35	2021	C	92,042
12348 High Bluff Dr., Del Mar, CA			1,629	3,096	8,504	1,629	11,600	13,229	8,741	35	1999	C	39,192
12400 High Bluff Dr., Del Mar, CA			15,167	—	49,456	15,167	49,456	64,623	11,382	35	2022	C	216,518
3579 Valley Centre Dr., Del Mar, CA			2,167	6,897	11,556	2,858	17,762	20,620	12,032	35	1999	C	54,960
3611 Valley Centre Dr., Del Mar, CA			4,184	19,352	29,641	5,259	47,918	53,177	33,359	35	2000	C	132,425
3661 Valley Centre Dr., Del Mar, CA			4,038	21,144	20,770	4,725	41,227	45,952	29,457	35	2001	C	131,662
3721 Valley Centre Dr., Del Mar, CA			4,297	18,967	17,124	4,254	36,134	40,388	23,912	35	2003	C	115,193
3811 Valley Centre Dr., Del Mar, CA			3,452	16,152	21,985	4,457	37,132	41,589	26,896	35	2000	C	118,912
3745 Paseo Place, Del Mar, CA (Retail)		(6)	24,358	—	75,649	24,358	75,649	100,007	11,192	35	2019	C	95,871
13480 Evening Creek Dr. North, San Diego, CA			7,997	—	67,178	7,997	67,178	75,175	27,665	35	2008	C	143,401
13500 Evening Creek Dr. North, San Diego, CA			7,581	35,903	25,140	7,580	61,044	68,624	34,020	35	2004	A	143,749
13520 Evening Creek Dr. North, San Diego, CA			7,581	35,903	25,728	7,580	61,632	69,212	36,164	35	2004	A	146,701
2100 Kettner Blvd., San Diego, CA			19,861	—	105,759	19,861	105,759	125,620	3,873	35	2022	C	206,527
2305 Historic Decatur Rd., San Diego, CA			5,240	22,220	10,816	5,240	33,036	38,276	16,858	35	2010	A	107,456
4690 Executive Dr., San Diego, CA (7)			—	—	6,880	—	6,880	6,880	408	35	1999	A	—
9455 Towne Centre Dr., San Diego, CA			6,081	—	80,080	6,081	80,080	86,161	7,363	35	2021	C	160,444
9514 Towne Centre Dr., San Diego, CA			4,928	—	47,563	4,928	47,563	52,491	685	35	2023	C	70,616
4100 Bohannon Dr., Menlo Park, CA			4,835	15,526	1,524	4,860	17,025	21,885	6,650	35	2012	A	47,643
4200 Bohannon Dr., Menlo Park, CA			4,798	15,406	8,370	4,662	23,912	28,574	9,495	35	2012	A	43,600
4300 Bohannon Dr., Menlo Park, CA			6,527	20,958	8,097	6,470	29,112	35,582	11,649	35	2012	A	63,430
4400 Bohannon Dr., Menlo Park, CA (8)			—	—	3,245	—	3,245	3,245	2,117	35	2012	A	—
4500 Bohannon Dr., Menlo Park, CA			6,527	20,957	4,782	6,470	25,796	32,266	10,623	35	2012	A	63,429
4600 Bohannon Dr., Menlo Park, CA			4,798	15,406	5,286	4,939	20,551	25,490	8,884	35	2012	A	48,413
4700 Bohannon Dr., Menlo Park, CA			6,527	20,958	1,576	6,470	22,591	29,061	9,106	35	2012	A	63,429
1290 - 1300 Terra Bella Ave., Mountain View, CA			28,730	27,555	13,461	28,730	41,016	69,746	9,462	35	2016	A	114,175
680 E. Middlefield Rd., Mountain View, CA			34,755	—	56,759	34,755	56,759	91,514	17,536	35	2014	C	171,676

F - 58

Initial Cost · Gross Amounts at WhichCarried at Close of Period
Property Location · Encumb-rances · Land and Improve-ments · BuildingsandImprove-ments · CostsCapitalizedSubsequent toAcquisition/Improvement · Land and Improve-ments · BuildingsandImprove-ments · Total · AccumulatedDepreciation · Depreci-ationLife (1) · Date ofAcquisition(A)/Construction(C) (2) · RentableSquareFeet (3)(unaudited)
($ in thousands)
690 E. Middlefield Rd., Mountain View, CA			34,605		—		56,515		34,605		56,515		91,120		17,461		35		2014	C	171,215
1701 Page Mill Rd., Palo Alto, CA			—		99,522		111		—		99,633		99,633		21,015		35		2016	A	128,688
3150 Porter Dr., Palo Alto, CA			—		21,715		6,446		—		28,161		28,161		6,276		35		2016	A	36,886
900 Jefferson Ave., Redwood City, CA (9)			16,668		—		109,612		18,063		108,217		126,280		31,253		35		2015	C	228,505
900 Middlefield Rd., Redwood City, CA (9)			7,959		—		50,285		8,626		49,618		58,244		14,031		35		2015	C	118,764
100 Hooper St., San Francisco, CA			78,564		—		197,034		85,510		190,088		275,598		29,788		35		2018	C	417,914
100 First St., San Francisco, CA (10)			49,150		131,238		81,437		49,150		212,675		261,825		106,267		35		2010	A	480,457
303 Second St., San Francisco, CA (11)			63,550		154,153		116,103		63,550		270,256		333,806		134,337		35		2010	A	784,658
201 Third St., San Francisco, CA			19,260		84,018		78,410		19,260		162,428		181,688		94,189		35		2011	A	346,538
360 Third St., San Francisco, CA			—		88,235		127,866		28,504		187,597		216,101		74,839		35		2011	A	436,357
250 Brannan St., San Francisco, CA			7,630		22,770		10,773		7,630		33,543		41,173		15,259		35		2011	A	100,850
301 Brannan St., San Francisco, CA			5,910		22,450		16,987		5,910		39,437		45,347		15,826		35		2011	A	82,834
333 Brannan St., San Francisco, CA			18,645		—		80,643		18,645		80,643		99,288		18,703		35		2016	C	185,602
345 Brannan St., San Francisco, CA			29,405		113,179		1,260		29,403		114,441		143,844		16,912		35		2018	A	110,050
350 Mission St., San Francisco, CA			52,815		—		212,738		52,815		212,738		265,553		51,190		35		2016	C	455,340
345 Oyster Point Blvd., South San Francisco, CA			13,745		18,575		—		13,745		18,575		32,320		3,392		35		2018	A	40,410
347 Oyster Point Blvd., South San Francisco, CA			14,071		18,289		44		14,071		18,333		32,404		3,354		35		2018	A	39,780
349 Oyster Point Blvd., South San Francisco, CA			23,112		22,601		352		23,112		22,953		46,065		5,440		35		2018	A	65,340
350 Oyster Point Blvd., South San Francisco, CA			23,719		—		177,245		23,719		177,245		200,964		11,889		35		2021	C	234,892
352 Oyster Point Blvd., South San Francisco, CA			23,449		—		165,720		23,449		165,720		189,169		11,662		35		2021	C	232,215
354 Oyster Point Blvd., South San Francisco, CA			19,538		—		141,126		19,538		141,126		160,664		11,708		35		2021	C	193,472
505 Mathilda Ave., Sunnyvale, CA			37,843		1,163		50,450		37,943		51,513		89,456		13,584		35		2014	C	212,322
555 Mathilda Ave., Sunnyvale, CA			37,843		1,163		50,447		37,943		51,510		89,453		13,583		35		2014	C	212,322
599 Mathilda Ave., Sunnyvale, CA			13,538		12,559		71		13,538		12,630		26,168		5,800		35		2012	A	76,031
605 Mathilda Ave., Sunnyvale, CA			29,014		891		77,281		29,090		78,096		107,186		30,299		35		2014	C	162,785
601 108th Ave., Bellevue, WA			—		214,095		88,698		42,680		260,113		302,793		118,339		35		2011	A	490,738
10900 NE 4th St., Bellevue, WA			25,080		150,877		52,662		25,080		203,539		228,619		89,219		35		2012	A	428,557
2001 W. 8th Ave., Seattle, WA			84,076		371,154		3,216		84,076		374,370		458,446		29,772		35		2021	A	539,226
333 Dexter Ave. North, Seattle, WA			42,854		—		328,064		42,854		328,064		370,918		27,405		35		2022	C	618,766
701 N. 34th St., Seattle, WA			—		48,027		9,743		—		57,770		57,770		24,961		35		2012	A	141,860
801 N. 34th St., Seattle, WA			—		58,537		23,304		—		81,841		81,841		30,106		35		2012	A	173,615
837 N. 34th St., Seattle, WA			—		37,404		6,734		—		44,138		44,138		18,088		35		2012	A	112,487
320 Westlake Ave. North, Seattle, WA	81,308		(12)	14,710		82,018		15,064		14,710		97,082		111,792		33,902		35		2013	A	184,644
321 Terry Ave. North, Seattle, WA		(12)	10,430		60,003		10,779		10,430		70,782		81,212		25,693		35		2013	A	135,755
401 Terry Ave. North, Seattle, WA			22,500		77,046		32		22,500		77,078		99,578		24,632		35		2014	A	174,530

F - 59

Initial Cost · Gross Amounts at WhichCarried at Close of Period
Property Location · Encumb-rances · Land and Improve-ments · BuildingsandImprove-ments · CostsCapitalizedSubsequent toAcquisition/Improvement · Land and Improve-ments · BuildingsandImprove-ments · Total · AccumulatedDepreciation · Depreci-ationLife (1) · Date ofAcquisition(A)/Construction(C) (2) · RentableSquareFeet (3)(unaudited)
($ in thousands)
200 W. 6th St., Austin, TX			—		—		644,210		—		644,210		644,210		17,688		35	2023	C	758,975
Residential Properties:
1550 N. El Centro Ave., Los Angeles, CA (4)			16,970		39		137,456		16,970		137,495		154,465		30,007		35	2016	C	—
6390 De Longpre Ave., Hollywood, CA			12,112		—		162,908		12,112		162,908		175,020		12,788		35	2021	C	—
3200 Paseo Village Way, Del Mar, CA		(6)	106,419		—		270,807		106,419		270,807		377,226		30,561		35	2020	C	—
TOTAL OPERATING PROPERTIES	612,694			1,651,703		2,959,869		5,595,272		1,743,170		8,463,674		10,206,844		2,518,304					17,044,128
Undeveloped land and construction in progress	—			913,363		—		1,121,441		913,363		1,121,441		2,034,804		—					—
TOTAL ALL PROPERTIES	$612,694		(13)	$2,565,066		$2,959,869		$6,716,713		$2,656,533		$9,585,115		$12,241,648		$2,518,304					17,044,128

(1)The initial costs of buildings and improvements are depreciated over 35 years using a straight-line method of accounting; improvements capitalized subsequent to acquisition or development are depreciated over the shorter of the lease term or useful life, generally ranging fromone to 20 years.

(2)Represents our date of construction or acquisition, or of our predecessor, the Kilroy Group.

(3)Represents the square footage of our stabilized portfolio.

(4)These properties include the allocated costs of a shared parking structure for a complex comprised offive office buildings andone residential tower.

(5)These properties secure a $156.4 million mortgage note.

(6)These properties secure a $375.0 million mortgage note.

(7)This property was taken out of the stabilized portfolio in the first quarter of 2022 for redevelopment in phases.

(8)This property was taken out of the stabilized portfolio in the fourth quarter of 2022 for redevelopment.

(9)These properties are owned by Redwood City Partners LLC, a consolidated property partnership.

(10)This property is owned by 100 First Street Member LLC, a consolidated property partnership.

(11)This property is owned by 303 Second Street Member LLC, a consolidated property partnership.

(12)These properties secure a $81.3 million mortgage note.

(13)Represents gross aggregate principal amount before the effect of the deferred financing costs of $9.5 million as of December 31, 2023.

F - 60

As of December 31, 2023, the aggregate gross cost of property included above for federal income tax purposes approximated $10.1 billion.

The following table reconciles the historical cost of total real estate held for investment from January 1, 2021 to December 31, 2023:

	Year Ended December 31,
	2023	2022	2021
(in thousands)
Total real estate held for investment, beginning of year	$11,732,183	$11,292,693	$10,190,046
Additions during period:
Acquisitions	—	40,033	1,131,248
Improvements, etc.	511,866	439,759	547,468
Total additions during period	511,866	479,792	1,678,716
Deductions during period:
Cost of real estate sold	—	(32,855)	(572,985)
Other	(2,401)	(7,447)	(3,084)
Total deductions during period	(2,401)	(40,302)	(576,069)
Total real estate held for investment, end of year	$12,241,648	$11,732,183	$11,292,693

The following table reconciles the accumulated depreciation from January 1, 2021 to December 31, 2023:

	Year Ended December 31,
	2023	2022	2021
(in thousands)
Accumulated depreciation, beginning of year	$2,218,710	$2,003,656	$1,798,646
Additions during period:
Depreciation of real estate	300,119	287,799	256,304
Total additions during period	300,119	287,799	256,304
Deductions during period:
Write-offs due to sale	—	(19,114)	(38,156)
Other	(525)	(53,631)	(13,138)
Total deductions during period	(525)	(72,745)	(51,294)
Accumulated depreciation, end of year	$2,518,304	$2,218,710	$2,003,656

F - 61

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.