Hudson Pacific Properties Signs Lease With Netflix To Fully Occupy New CUE Office Building In Hollywood

LOS ANGELES--()--Hudson Pacific Properties, Inc. (NYSE: HPP) today announced that Netflix has signed a lease to fully occupy all 91,953 square feet of space at its new, five-story office building called CUE.

Designed by Gensler, CUE is a Class A, creative office environment, and part of the entertainment production complex Hudson Pacific is building at Sunset Bronson Studios. Also located at Sunset Bronson Studios is the company’s recently completed, 14-story, Class A office tower called ICON. Netflix has leased all 323,000 square feet of space at ICON.

The close proximity of Hudson Pacific’s two new office buildings will help facilitate collaboration with Netflix teams working at Sunset Bronson Studios. In September, Netflix signed a multi-year agreement for 99,250 square feet of space at Sunset Bronson Studios for multiple stages and production offices.

Netflix has now leased over 500,000 square feet of space from Hudson Pacific in Hollywood.

“CUE is another terrific addition to the world-class entertainment production complex we’re creating at Sunset Bronson Studios,” said Victor J. Coleman, Chairman and Chief Executive Officer of Hudson Pacific Properties. “With CUE, ICON and the sound stage and production facilities at both Sunset Bronson Studios and nearby Sunset Gower Studios, Hudson is realizing its long-term goal of attracting premier content creators back to Hollywood.”

CUE features a 9,500-square-foot rooftop deck, terraced balconies, high ceilings, large floor plates and windows to create an open and airy environment. The building, scheduled for completion in mid-2017, is on track to receive LEED Gold certification. CUE is located one block west of the 101 Freeway and is walking distance to the LA Metro Red Line.

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 nearly 18 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 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.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond the Company’s control, which may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect the Company’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Company’s future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 filed with the SEC on February 26, 2016, as amended by the Form 10-K/A filed with the SEC on December 23, 2016, and other risks described in documents subsequently filed by the Company from time to time with the SEC.

Contacts

Investor/Media Contacts:
Hudson Pacific Properties
Laura Campbell, 310.622.1702
Vice President, Head of Investor Relations
lcampbell@hudsonppi.com
or
Blue Marlin Partners
Greg Berardi, 415.239.7826
greg@bluemarlinpartners.com

Contacts

Investor/Media Contacts:
Hudson Pacific Properties
Laura Campbell, 310.622.1702
Vice President, Head of Investor Relations
lcampbell@hudsonppi.com
or
Blue Marlin Partners
Greg Berardi, 415.239.7826
greg@bluemarlinpartners.com