Tyler Rose, president of Kilroy Realty, has called it quits after a quarter century of major projects.
The president and secretary of the Los Angeles-based real estate investment trust will step down March 1, the San Francisco Business Times reported, citing a regulatory filing.
He will be replaced as president by Justin Smart, 63, Kilroy’s president of development and construction services. Smart joined the company in 2000 and his son Cooper works for Kilroy in a non-executive role.
While president, Rose helped lead Kilroy to develop office and life sciences projects across the West, including the Oyster Point mega campus in South San Francisco and San Francisco’s Flower Mart redevelopment.
Among the biggest real estate developers based in Los Angeles, Kilroy Realty paid $185 million for a 19-building office campus in Culver City. Currently, the company is poised to build a 600,000-square-foot office and life science campus in San Diego and a 44,000-square-foot office building in Santa Monica.
Rose entered into a separation agreement on Nov. 30 that dictates his employment will end on March 1 when his contract with Kilroy expires, according to a December regulatory filing. It said that Rose “from time to time has raised the possibility that he could retire.”
Prior to Kilroy Realty, Rose worked for Irvine Apartment Communities, The Irvine Company, J.P. Morgan & Co. and General Electric.
He will receive a cash benefit payment of $1.2 million. Rose, 61, will provide Kilroy with “an additional year of transition support,” according to the agreement.
Rose did not respond to messages seeking comment on his departure this week, while Kilroy declined comment to the Business Times.
He joined Kilroy as its treasurer in 1997, shortly after the company’s IPO. Rose was appointed president in December 2020, after serving as executive vice president and chief financial officer since 2009.
Kilroy Realty was founded in 1947 by John Kilroy Sr. and operated since 1981 by his son John Kilroy Jr. It now has more than 16 million square feet of life science and commercial offices in five regions: the San Francisco Bay Area, Greater Los Angeles, San Diego, the Pacific Northwest and Austin, Texas.
— Dana Bartholomew
The post Tyler Rose of Kilroy Reality to retire after 26 years appeared first on The Real Deal Los Angeles.
Powered by WPeMatico