Kilroy buys full block in South Lake Union, plans to demolish KING 5 studio

Kilroy Realty Corp. has scooped up another property in Seattle’s South Lake Union, but unlike the previous acquisitions this one is a re-development play.

The company bought the full block where KING 5 has operated for decades. According to the deed that was recorded with King County, Kilroy (NYSE: KRC) paid KING Broadcasting Co. just over $42.5 million for the nearly 1.9 acres at 333 Dexter Ave. N.

Officials of Kilroy, which invests in and develops office projects, could not be reached Friday.…