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COMMERCIAL REAL ESTATE

Peregrine Signs $175-Million Del Mar Lease

July 13, 1999

El Segundo-based Kilroy Realty Corp. has signed Peregrine Systems Inc. to a $175-million, 12-year agreement that Kilroy says is the largest single office lease in the history of San Diego County.

Peregrine, which provides software for managing telecommunications equipment, real estate, transportation fleets and other business assets, will occupy four buildings and 420,000 square feet in a five-building, 540,000-square-foot project at Interstate 5 and State Route 56 in Del Mar to be called Peregrine Systems Corporate Center. San Diego-based Peregrine, which will move its headquarters to the center, also has taken an option to rent the 120,000-square-foot fifth building.

Kilroy is the developer of the project, which is under construction and slated to be completed in phases by January 2003. The center was designed by architects Carrier Johnson of San Diego and is being built by Reno Contracting Inc. of San Diego.

Both Kilroy and Peregrine were represented in lease negotiations by Phil Monroe and Patrick Rohan of John Burnham & Co., along with Laura O'Brien of CB Richard Ellis.

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