Updated Sep 2, 2026
Box Inc. Renews Office Lease At Kilroy Realty In Redwood City For 242,935 SF
900 Jefferson Avenue
Building Size
242,935 SF
Asset Type
Office
Closing
Aug 28, 2026
About this deal
AI
This transaction involves an office asset located at 900 Jefferson Avenue in Redwood City, CA, covering 242,935 square feet. The lease has been renewed by Box Inc. at Kilroy Realty’s Crossing 900 campus and extends through June 2040, resulting in approximately $312 million in gross rent before concessions.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $312 million
- Square Footage: 242,935
- Address: 900 Jefferson Avenue
- Market: Redwood City, CA
- Landlord: Kilroy Realty
- Tenant: Box Inc.
- Landlord's Representative: Ben Paul - Cushman & Wakefield
- Tenant's Representatives: Christina Clark & Ben Stern - Newmark
The deal highlights the continued tenant leverage within Silicon Valley's office market, as Box Inc. will return 116,337 square feet of space while securing approximately $29 million in rent abatements.
Players
Redwood City Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93