Four-Building Office Campus Is Now 100% Leased
LOS ANGELES–Hudson Pacific Properties, Inc. (NYSE: HPP) today announced a new lease with Toyota Research Institute for 22,392 square feet at Page Mill Center in Palo Alto.
“We’re pleased to welcome Toyota Research Institute to Page Mill Center,” said Hudson Pacific Properties’ Chairman and CEO, Victor Coleman. “In less than a year, we’ve taken that office campus from 60 to 100% leased, filling it with quality tenants on long-term leases at rents at or above our underwriting. It’s a perfect example of what we’re accomplishing across the board at our San Francisco Peninsula and Silicon Valley assets.”
Hudson Pacific acquired the 176,245-square-foot office campus as part of a larger portfolio purchase from Blackstone last year. In total, the company owns approximately 1.3 million square feet in Palo Alto, including roughly 40% of the world-renowned Stanford Research Park.
About Hudson Pacific Properties
Hudson Pacific Properties is a vertically integrated real estate company focused on acquiring, repositioning, developing and operating high-quality office and state-of-the-art media and entertainment properties in select west coast markets. Hudson Pacific invests across the risk-return spectrum, favoring opportunities where it can employ leasing, capital investment and management expertise to create additional value. Founded in 2006 as Hudson Capital, the company went public in 2010, electing to be taxed as a real estate investment trust. Through the years, Hudson Pacific has strategically assembled a portfolio totaling approximately 17 million square feet, including land for development, in high-growth, high-barrier-to-entry submarkets throughout Northern and Southern California and the Pacific Northwest. The company is a leading provider of design-forward, next-generation workspaces for a variety of tenants, with a focus on Fortune 500 and industry-leading growth companies, many in the technology, media and entertainment sectors. As a long-term owner, Hudson Pacific prioritizes tenant satisfaction and retention, providing highly customized build-outs and working proactively to accommodate tenants’ growth. Hudson Pacific trades as a component of the Russell 2000® and the Russell 3000® indices. For more information visit HudsonPacificProperties.com.