Kilroy Realty sold an office asset located at 501 Santa Monica Boulevard in Santa Monica. The property consists of 73,000 square feet and was sold for $40,000,000, equating to a price per square foot of $548.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $40,000,000
• Buyer: Washington Capital Management
• Seller: Angela M. Aman - Kilroy Realty
• Square Footage: 73,000
• Price per Square Foot: $548
• Date of Transaction: 07/28/2025
• Address: 501 Santa Monica Boulevard
• Market: Santa Monica

Despite the reduction in occupancy from 97.8% in Q1 2020 to 65% at the time of sale, Kilroy Realty reported $68.4 million in income for Q2. They also mentioned securing approximately 400,000 square feet in new leases and are in progress to sell non-core assets, including another Santa Monica property set to close next year for $41 million.