LOS ANGELES--(BUSINESS WIRE)--Hudson Pacific Properties, Inc. (NYSE: HPP) today announced that Google, Inc. has signed a 10-year lease for 166,460 square feet at the company’s Rincon Center II office tower in San Francisco.
The lease is anticipated to commence in March 2018 and will backfill two of Hudson Pacific’s significant 2017 expirations: a 132,600-square-foot lease with AIG and a 22,000-square-foot lease with global law firm Dentons.
“Hudson Pacific Properties is pleased to further expand its relationship with Google and support the growth of its urban campus in downtown San Francisco,” said Victor Coleman, Chairman and Chief Executive Officer of Hudson Pacific Properties. “This deal exemplifies the continued strong demand from top-tier tenants for big blocks of space in the city, as well as our team’s ability to proactively address expirations and capture the mark-to-market on rents to the benefit of our shareholders.”
Located on Spear Street in San Francisco’s Financial District, Rincon Center consists of two, five- and six-story Class-A office towers with marquee, ground-floor retail space. Rincon Center is one of the city’s landmark mixed-use properties, with excellent access to public transit.
Hudson Pacific’s office portfolio in downtown San Francisco consists of six properties and 2.2 million square feet. The company is also the largest publicly-traded, institutional owner of office property in Silicon Valley, with 7.3 million square feet in that market.
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 over 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 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.
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