Company: HPP
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001482512-25-000043
Chunk: 3

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 3
---
ized Base Rent per Square Foot(3)OFFICESame-store(4)3912,696,54274.6 %75.8 %$54.58 Stabilized non-same store(5)00— — — Total stabilized3912,696,54274.6 75.8 54.58 Lease-up(5)(6)1724,29484.8 89.1 62.23 Total in-service office4013,420,83675.1 76.5 55.04 STUDIOSame-store(7)31,205,02473.8 73.8 48.20 Non-same store(5)1241,000Total 41,446,024Repositioning(5)(8)1260,567— — — Development(5)(9)2778,0000.3 0.4 — Held-for-sale(5)1138,35413.2 13.2 49.25 Total repositioning, development and held-for-sale41,176,921Total office and studio properties4816,043,781Future development(10)73,233,589TOTAL5519,277,370

__________________ 

1.Determined by management based upon estimated leasable square feet, which may be less or more than the Building Owners and Managers Association (“BOMA”) rentable area. Square footage may change over time due to re-measurement or re-leasing.

2.Percent occupied for office properties is calculated as (i) square footage under commenced leases as of March 31, 2025, divided by (ii) total square feet, expressed as a percentage. Percent leased for office properties includes uncommenced leases. Percent leased for studio properties is calculated as (i) average square footage under commenced leases for the 12 months ended March 31, 2025, divided by (ii) total square feet, expressed as a percentage. 

3.Annualized base rent (“ABR”) per square foot for office properties is calculated by multiplying (i) cash base rents under commenced leases excluding tenant reimbursements as of March 31, 2025 by (ii) 12. On a per square foot basis, ABR is divided by square footage under commenced leases as of March 31, 2025. For all expiration years, ABR is calculated as (i)