Hudson Pacific Properties Inc (HPP) News & EventsHPPHudson Pacific Properties Inc

Hudson Pacific Signs 502,082 Sq Ft Lease with San Francisco

Hudson Pacific Properties announced a new 502,082-square-foot, 23-year lease with the City and County of San Francisco at 1455 Market Street, bringing occupancy at the approximately 1 million-square-foot tower to 89% and the City's total footprint in the building to over 900,000 square feet. This latest lease represents the largest office lease signed in San Francisco since 2018. Victor Coleman, Chairman and CEO of Hudson Pacific, said: "The right anchor tenant in the right asset can transform a neighborhood, and that's exactly what the City's long-term commitment at 1455 Market can do for Mid-Market. But this transaction is equally a milestone for Hudson Pacific. Three off-market leases with a high-credit-quality tenant, a building taken from 47% to 89% occupied, and meaningful occupancy and NOI growth for our portfolio-all in one of the most closely watched office markets in the country. San Francisco is on the upswing, and Hudson Pacific isn't just participating in that recovery, we're helping drive it. We're proud to do so alongside Mayor Lurie and the City officials whose partnership and commitment to 1455 Market made this possible."

Hudson Pacific Reports Q1 Revenue of $181.9M

Reports Q1 revenue $181.9M, consensus $172.71M. Victor Coleman, Hudson Pacific's CEO and Chairman, commented, "Our first quarter results reflect the meaningful progress we're making to position Hudson Pacific for long-term value creation. We delivered our third consecutive quarter of occupancy gains, executing over 550,000 square feet of office leases, while our Hollywood studio stages reached 97% leased and Sunset Pier 94 achieved 100% leased within its first quarter of operations. We also continued to strengthen our financial foundation, improving G&A by 32% year-over-year, maintaining total liquidity in excess of $930 million, and growing Core FFO sequentially on a per share basis."

Hudson Pacific Announces Phased Wind-Down of Quixote Subsidiaries in Atlanta

Hudson Pacific Properties announced its Quixote subsidiaries will commence the phased wind-down of leased sound stage facilities and Atlanta-area operations, along with other ongoing cost optimization efforts. Select equipment assets are expected to be redeployed from Atlanta to Los Angeles and New York where Quixote's fleet, lighting and grip, production supplies and communications rental services will continue. These actions, which will take place over the coming quarters to minimize disruption for Quixote clients, represent another approximately $21-$27 million in potential annualized cost savings. Sunset Studios, Hudson Pacific's separately owned studio portfolio, remains unaffected and continues to demonstrate resilient demand fundamentals. Sunset Studios' flagship Hollywood stages are 96% leased and the newly delivered Manhattan stages are 100% leased, underscoring that best-in-class, purpose-built studio real estate in prime locations continues to attract strong tenant interest even amid more moderate production levels. Hudson Pacific anticipates these cost savings will begin to materialize in the second half of the year and will provide an updated full-year outlook when it reports first quarter 2026 earnings.