Kilroy Realty Corporation (NYSE: KRC) announced today that it has entered into a 93,000 square foot lease agreement with New York City-based NeueHouse, which will bring its private membership collaborative concept to KRC’s Columbia Square in the first quarter of 2015. The 15-year transaction is the largest lease to be signed in Hollywood in more than five years.

NeueHouse will occupy all of the office space in the newly renovated, historical Radio and Business buildings that anchor Columbia Square, a $400 million, 685,000 square foot mixed-use creative office, retail and residential development now under construction on the site of CBS’ historic, early 20th century broadcast facility on Sunset Boulevard. This is the second location for NeueHouse, which plans to open 20 collaborative offices around the world by 2020. The first NeueHouse opened its doors in May 2013 in New York City and sold out within three months.

Built in 1938 at a cost of $2 million, the distinctive Radio building was the most expensive broadcasting facility ever built at the time. The former home to CBS’ West Coast operations, the building included the 25,000 square foot Columbia Playhouse, from which radio comedies featuring Jack Benny, Burns and Allen, Edgar Bergen and Red Skelton were broadcast in front of a live audience. Kilroy Realty has been working closely with the Hollywood Heritage, Historic Resources Group and the City of Los Angeles to preserve the building, which was designated an historic-cultural monument in 2009.

“Columbia Square brought together under one roof the great minds in the golden age of radio to produce some of the most memorable shows in entertainment history,” said Kilroy Realty Executive Vice President David Simon. “As a result of our alliance with NeueHouse, that kind of creativity and collaboration will once again pulse through one of the most important buildings in Hollywood.”

Conceived by venture capitalists Joshua Abram and Alan Murray, NeueHouse has pioneered a new model for the collaborative workplace by creating a series of spaces, experiences and amenities that cater to “solopreneurs” and teams of up to 20 people in the creative arts, including such fields such as film, design, publishing, the performing arts and technology.

NeueHouse offers a range of memberships to meet the needs of those who may not require a dedicated office space but can benefit from NeueHouse’s interdisciplinary and imaginative cultural experience, as well for rapidly growing firms. All members have access to NeueHouse’s fully equipped recording studios, post-production and broadcast facilities, conference rooms, screening room, and private dining rooms with in-house food service.

As part of the experience, NeueHouse will curate a wide range of events for its members including evenings with artists, industry leaders, performers and acclaimed speakers. Programs will range from a weekly conversation series to film screenings, concerts, readings and private gallery tours.

Kilroy Realty and NeueHouse have formed a strategic alliance and will continue to work together sourcing other West Coast opportunities.

Carl Muhlstein of Jones Lang LaSalle represented Kilroy Realty in the transaction. NeueHouse was represented by Steve Kolsky and Neal Golden of Newmark Knight Frank.

About Kilroy Realty Corporation. With more than 65 years’ experience owning, developing, acquiring and managing real estate assets in West Coast real estate markets, Kilroy Realty Corporation (KRC), a publicly traded real estate investment trust and member of the S&P MidCap 400 Index, is one of the region’s premier landlords. The company provides physical work environments that foster creativity and productivity, and serves a roster of dynamic, innovation-driven tenants, including technology, entertainment, digital media and health care companies.

At March 31, 2014, the company’s stabilized portfolio totaled 13.3 million square feet of office properties, all located in the coastal regions of greater Seattle, the San Francisco Bay Area, Los Angeles, Orange County and San Diego. 41% of the company’s properties were LEED certified and 55% of the eligible properties were ENERGY STAR certified. In addition, KRC has approximately 2.5 million square feet of new office development under construction with a total estimated investment of approximately $1.5 billion. More information is available at http://www.kilroyrealty.com.

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