Oyster Point's Second Phase Half-Leased As Kilroy Navigates Soft Lab Demand

Barchart·07/29/2026 20:34:14

The second phase of Kilroy Realty's sprawling Oyster Point life sciences campus in South San Francisco is climbing uphill in a bid to fill space as the lab leasing market languishes. Although the first phase of the 865K SF campus is 100% leased, the second phase, which was slated for stabilization in the first quarter of this year, is 49% leased and 7% occupied. Olema Pharmaceuticals is among the tenants, signing a 38K SF, seven-year lease in Phase 2 in the second quarter. There is interest in the rest of the unleased space, Kilroy CEO Angela Aman said during the company's second-quarter earnings call Tuesday. A variety of users looking...