Kilroy Sells Intuit Campus For $262M
Intuit, the developer of TurboTax income tax software, has acquired its 466k SF San Diego office campus in Carmel Valley from Kilroy Realty for $262.3M.
Located at 7545 Torrey Santa Fe Rd, the Santa Fe Summit office complex is the regional headquarters for Intuit’s consumer Turbo Tax group, which includes up to 1,500 employees. Designed by the architectural firm of Hanna Gabriel Wells, the ultra-modern stone and glass office complex is on an 11.2-acre campus and includes four five-story buildings linked together by a central pedestrian promenade.
Amenities include lushly landscaped grounds with water elements, outdoor dining and meeting areas, a large fitness and recreation area, and a grass amphitheater, oriented toward a large canyon, open-space system. A centralized, 1,700-space parking structure is behind buildings, out of site of the park-like atmosphere.
Intuit decided to purchase the campus at the end of its 10-year lease as part the company’s global real estate strategy, according to the San Diego Tribune. Kilroy owns the adjacent property, where the company plans to build a 600k SF campus to be known as Meridian At Santa Fe Summit. Kilroy most likely will break ground on this office campus, which will include four five-story buildings, in the next 12 to 18 months, according to JLL’s Jim Olson, who has been assigned to pre-lease the complex. [SDUT]
