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Okta to set up HQ at Kilroy Realty's San Francisco office tower

Kilroy Realty Corp. struck a deal to lease 207,000 square feet of space at its 27-story office tower at 100 First St. in San Francisco to Okta Inc.

The internet software and services company plans to use the site as its new corporate headquarters and expects to occupy the space in phases, starting in the second quarter of 2018. The company is expanding into the city following its April IPO.

Okta's new lease in the building will replace Delta Dental's 188,000-square-foot lease, which expires in the second quarter of 2018. The roughly 467,000-square-foot property is now 95% leased.

The 10-year lease with Okta is the third-largest lease signed by Kilroy at its San Francisco office buildings over the past 12 months. Dropbox Inc. pre-leased 736,000 square feet of space at Kilroy's The Exchange On 16th development in October and Adobe took up 320,000 square feet of space at the company's 100 Hooper St. project in November 2016.