Will a Return to Work Help This Real Estate Specialist?
Working from home has changed the way most of us interact with our jobs. The COVID-19 lockdowns ushered in a massive and undeniably successful experiment in remote working. This raises questions for office real estate investment trusts (REIT) like Kilroy (NYSE: KRC). Will companies adapt to the new paradigm by reducing their office footprint or going 100% remote? Kilroy Realty recently gave an update on the office market during its third-quarter earnings conference call that should give office REIT investors some comfort.
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Kilroy Realty is an office REIT that focuses on the West Coast markets. Its portfolio totals 15.2 million square feet of office space in Los Angeles, Seattle, San Diego, and the San Francisco Bay Area. The company recently announced that it is expanding into Austin, Texas as many tech companies are being priced out of many of these West Coast markets.
Source Fool.com
