Kilroy Realty Corporation · NYSE:KRC
Kilroy Realty — Q1 2025 Earnings Presentation
27 slides from Kilroy Realty's earnings presentation, May 6, 2025
Slide 1: Kilroy Realty Corporation Quarter Ended March 31, 2025
Kilroy Realty Corporation Quarter Ended March 31, 2025
Slide 2: Company Overview
Company Overview
Slide 3: Who is Kilroy?
Who is Kilroy? — Kilroy Realty Corporation (“KRC” or the “Company”) is a leading, publicly traded owner and operator of Class A office and life science properties, with assets in the San Francisco Bay Area, Los Angeles, San Diego, Seattle, and Austin + KRC’s tenant roster is comprised of high-qualit
Slide 4: Why Kilroy?
Why Kilroy? An Opportunity to Capitalize on the West Coast Recovery Now Underway Strengthening Fundamentals Across the Company's West Coast Markets - Fueled by rising levels of venture capital (“VC”) funding, a rapidly expanding artificial intelligence (“Al”) sector, and return-to-office momentum, K
Slide 5: Kilroy's Strategic Approach
Kilroy’s Strategic Approach • • • • • • • •
Slide 6: West Coast Office Recovery
West Coast Office Recovery
Slide 7: West Coast Office Recovery
West Coast Office Recovery Seattle Austin San Francisco Bay Area Los Angeles San Diego
Slide 8: West Coast Office Recovery
West Coast Office Recovery Recalibrated Office Demand - Evolving Return to Office Sentiment - While remote work gained significant traction during and immediately following the pandemic, many organizations have since recalibrated, gradually increasing in-office requirements, which now average nearly
Slide 9: West Coast Office Recovery
West Coast Office Recovery Evolving Return to Office Sentiment Remote work sentiment has evolved since the onset of the pandemic, with a growing shift back toward in-person attendance as organizations prioritize productivity, culture, and team cohesion Before After OQ Meta salesforce amazon — “We've
Slide 10: West Coast Office Recovery
West Coast Office Recovery – Bloomberg – Business Insider
Slide 11: Flight-to-Quality Is Reshaping the Market
West Coast Office Recovery Flight-to-Quality Is Reshaping the Market — As tenants reassess their real estate strategies, older, lower-tier buildings are increasingly viewed as obsolete, falling short of the expectations of today’s workforce — The vacancy rate gap between Trophy and Class B propertie
Slide 12: AI as a Catalyst for Office Space Demand in San Francisco
West Coast Office Recovery Al as a Catalyst for Office Soace Demand in San Francisco - Alcompanies are projected to lease up to 16M SF of office space in San Francisco by 2030, or an average 2.7M SF annually, building on the 5M SF leased over the past five years - Since 2020, $103B of VC funding has
Slide 13: Life Science Opportunity
Life Science Opportunity
Slide 14: Sustained Growth in Life Science Innovation
Life Science Opportunity Sustained Growth in Life Science Innovation FDA Annual New Drug Approvals (2000-2024) 60 50 41%» 221852028 Average) - The life science industry experienced substantial investment 35.7 and rapid innovation over the last decade, as the aging 40 233 (20ihe 20 mE ETeoe) populati
Slide 15: Kilroy Oyster Point Phase Update
Life Science Opportunity Kilroy Oyster Point (“KOP”) Phase 2 Update Project Overview: - KOP Phase 2 is a three-building, 875K SF life science development within KRC’s broader five-phase KOP project, located on a 50-acre waterfront site in South San Francisco. KOP Phase 2 was delivered in January 202
Slide 16: Leasing Performance and Outlook
Leasing Performance and Outlook
Slide 17: Leasing Performance and Outlook
Leasing Performance and Outlook
Slide 18: Leasing Performance and Outlook
Leasing Performance and Outlook •
Slide 19: Strong Balance Sheet and Robust Liquidity Profile
Strong Balance Sheet and Robust Liquidity Profile
Slide 20: Strong Balance Sheet and Robust Liquidity Profile
Strong Balance Sheet and Robust Liquidity Profile − − •
Slide 21: Environmental, Social, and Governance
Environmental, Social, and Governance
Slide 22: Environmental, Social, and Governance
Environmental, Social, and Governance
Slide 23: Environmental, Social, and Governance
Environmental, Social, and Governance
Slide 24: Environmental, Social, and Governance
Environmental, Social, and Governance −
Slide 25: Environmental, Social, and Governance
Environmental, Social, and Governance
Slide 26: Environmental, Social, and Governance
Environmental, Social, and Governance
Slide 27: Kilroy – Where Innovation Works
KILROY Where Innovation Works