BEVERLY HILLS, Calif.--(BUSINESS WIRE)--International real estate investment and services firm Kennedy Wilson (NYSE: KW) today announced that it completed three office leases totaling 145,000 sq. ft. in Los Angeles and San Francisco.
“We’ve seen an uptick in leasing activity at our office properties,” said John Prabhu, president of KW Commercial Investment Group. “The increased activity is primarily in Southern California, Northern California and Seattle, driven by the technology, media and entertainment companies in these markets.”
Last month, the company welcomed digital agency Huge, a member of the Interpublic Group of Companies, at 6100 Wilshire in the Miracle Mile area of Los Angeles, increasing the building’s occupancy to 94%. Last year, Kennedy Wilson signed Aecom at 300 California St. in San Francisco, which increased the building’s occupancy to 97%. Additionally, the company completed a ten year, ground floor retail lease with Buffalo Wild Wings at 7060 Hollywood Blvd. in Los Angeles, bringing the building’s occupancy to 100%. The lead tenant of 7060 Hollywood Blvd. is entertainment company Live Nation, which occupies 100,000 sq. ft., representing one of the largest lease transactions in Los Angeles of 2009.
“Tenants are looking for good quality assets with strong ownership, which gives them the security that tenant improvements will be funded and completed on time in addition to the property being maintained at a Class A level,” Prabhu commented.
About Kennedy Wilson
Founded in 1977, Kennedy Wilson is an international real estate investment and services company headquartered in Beverly Hills, CA with 23 offices in the U.S., Europe and Japan. The company offers a comprehensive array of real estate services including auction, conventional sales, property services and investment management. Through its fund management and separate account businesses, Kennedy Wilson is a strategic investor of real estate investments in the U.S., Europe and Japan. For further information on Kennedy Wilson, please visit www.kennedywilson.com.