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WESTSIDE DEVELOPMENT IS HOT

Three major developers described the Westside real estate market at a sold-out general meeting at The Regency Club in Westwood. Victor Coleman, COO of Arden Realty; John Kilroy, President of Kilroy Realty Corporation; and Jerry Snyder, Founding Partner of the J.H. Snyder Co. all agreed on the dynamic upturn of the real estate development market and the high quality of the current projects on the Westside.

Victor Coleman:

Arden Realty is a selfadministered self-managed real estate investment trust and is listed on the NY Stock Exchange. Arden is the largest office landlord in Southern California with 139 properties.

Howard Hughes Center is a 70 acre mixed use, master planned office development; retail, hotel and entertainment complex located on the 405 (the main thoroughfare in all of Southern California) where more than 500,000 cars pass the Center every day. The two billboards there are second only to Times Square in revenue.

Past presidents Barbara Trister, Stan Michota and Marilyn Pepper enjoy lunch at The Regency Club before the presentation.

John Kilroy, Victor Coleman and Jerry Snyder (from 1.) share a laugh with President John Stern at the end of the Westside development discussions.

County and a project on the West Side. It was 94% leased by completion and within a few months it was 100% leased. In the portfolio is a transaction in Long Beach with Epson America for their new headquarters, a 5-story building just recently completed, as is the new headquarters, 200,000 sq. ft. building, for Senior Center Action Network also in Long Beach. Recently completed is a TCI National Digital Television regional headquarters over in the West Side project. Another project ready to start is in Calabasas; the first phase is substantially pre-leased.

John Kilroy demonstrates the accessibility of the burgeoning Westside Media District.

Jerry Snyder:

Jerry Snyder is the founding partner of J.H. Snyder Co., one of the top real estate development firms in Los Angeles and one of the top 100 firms in the United States. For over 40 years Mr. Snyder has been in the forefront of the development industry with creative people-oriented residential and commercial projects. He has built over 40,000 homes from New York to California including Coronado Shores in San Diego and Beverly Glen Park in Beverly Hills. Continued on page 2

This synergistic campus environment will capture the fast moving technology world. Major entertainment companies have expressed an interest so Arden is staying flexible on tenant spaces.

Victor Coleman points out Class A features in the retrofitting of Westwood Center.

The Westwood Center Building will be a complete retrofit. The retail aspect is growth-oriented, the location is outstanding for its accessibility to freeways and traffic ingress and egress is excellent. The amenities in the building will be class A and it is the only east/west facing building in Westwood. The demand is increasing for space such as this.

John Kilroy Jr.:

Kilroy Realty Corporation owns, operates and develops commercial and industrial properties in the Western United States, primarily in California. Founded in 1947 by current company Chairman, John D. Kilroy, Sr., the company benefits from a 50-year history in development and management currently owning 11.8 million square feet of commercial office and industrial space.

One of the current projects is the Westside Media Center on Olympic Blvd., Centinela and Bundy, all 3 streets connecting to freeways. The building on the west edge of LA and Santa Monica is part of an upper-end media corridor. The two buildings are unique with 17' clear ground floor in the two 4-story structures and roughly 7 acres so there will be gardens and water features. Construction will start immediately. This project is part of a huge development program with over $600 million worth of projects and over 80% leased.

Last year Kilroy completed a million-sq.ft. mostly in Orange County and some in San Diego