Kilroy Realty Corporation owns, operates, develops and acquires suburban office and industrial real estate in key suburban submarkets, primarily in Southern California. The Company operates, qualifies and intends to continue to qualify as a self-administered and self-managed real estate investment trust (REIT). As of December 31, 2001, Kilroy's portfolio of stabilized operating properties (the Properties) was comprised of 86 office buildings and 61 industrial buildings, which encompassed an aggregate of approximately 7.2 million and 5.1 million rentable square feet, respectively. The Properties include 13 properties that the Company developed and then stabilized during 2001 and 2000, encompassing an aggregate of approximately 312,400 and one million rentable square feet, respectively.