Kilroy Realty Corp. ended its silence about Flower Mart plans Wednesday by promising a new underground market for vendors, who likely won't have to move away while it builds towers for technology companies.
The developers and the California Flower Market, which will operate the new Flower Mart, announced that all flower tenants will be offered five-year leases at current rents. The "goal" is to keep current tenants on site or next door as construction occurs, likely from 2016 to 2018, according to a list of commitments to the Flower Mart tenants.
"We're going to work with the tenants to figure out the best way to do that. The important thing we want to get across is we want to make sure the tenants have the minimum amount of disruption. Kilroy will pay for moving costs on or off-site during construction," Mike Grisso, senior vice president at Kilroy, told the Business Times.
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