Kilroy Realty Corporation reported earning WELL Core and Shell Certification at the Gold level for its office project in San Francisco, the Exchange on Sixteenth. The company said that this is the first project in the city to achieve such certification, and only the second in California.
Located in the Mission Bay district, the Exchange on Sixteenth is a four-building complex totaling 718,000 square feet. The International WELL Building Institute (IWBI) takes health, wellness, air and water quality as well as fitness and nourishment elements into consideration for WELL Core and Shell Certification. Certification advantages include improved employee retention, increased leasing rates, building value gains, and greater corporate financial value, according to the IWBI.
Health-focused design at the Exchange on Sixteenth includes features such as green roofs, enhanced air quality, biophilic design, ample daylight, activated stairwells, mechanical design that emphasizes thermal comfort, low-emitting materials, and a large onsite bicycle amenity, Kilroy Realty said.
The corporation noted that Rios Clementi Hale Studios designed the project, Flad Architects provided executive architecture services, Marelich created the mechanical, electrical and plumbing design, Hathaway Dinwiddie oversaw construction, Stok executed the commissioning, and A Sustainable Production coordinated the WELL certification process. The office project previously earned LEED Platinum certification.
Kilroy Realty Corporation said that, as of June 30, their stabilized portfolio totaled around 14.3 million square feet, consisting mainly of office and life science space with 92.3% occupied and 96% leased. S&P Global Ratings gave the corporation a “stable” outlook in June, despite the pandemic, in their ratings of global office real estate investment trusts (REITs). Late last month, Kilroy Realty told investors that all of their stabilized properties remained open and operational with essential staff and key procedures during the pandemic.