LOS ANGELES—The son has taken over for the father at Kilroy Realty Corp, as John B. Kilroy Sr. has retired, and John Kilroy Jr. replaces him as chairman.

Kilroy, Sr. founded the businesses in 1947 and has served as the publicly traded real estate investment trust’s chairman since its initial public offering in 1997, though he turned over the day-to-day leadership to son John in 1981. The company has owned, developed, acquired and managed real estate assets primarily in the coastal regions of Los Angeles, Orange County, San Diego, the San Francisco Bay Area and greater Seattle, and now has 13.2 million rentable sq. ft. of commercial office space.

“My father helped create what, today, we take for granted—a professional real estate industry committed to meeting the needs of individual tenants and minimizing the capital investment and management responsibilities associated with owning commercial property,” says John Kilroy Jr.

In recognition of the senior Kilroy, the company has established the Kilroy Scholarship at Loyola Marymount University with a gift of $100,000 each year for the next 10 years. The Kilroy Scholarship will support undergraduate students in the Frank R. Seaver College of Science and Engineering who are pursuing a degree in Environmental Science. This scholarship will allow academically deserving LMU students in financial need to pursue a high caliber education and enter careers in areas such as environmental protection, environmental education and natural resource management.