Company: HPP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001482512-25-000150
Chunk: 10

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 10
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3)62 357,594 — — — — — Signed leases not commenced19 87,044 3,171,796 .7 38.88 3,924,381 48.10 Portfolio Total/Weighted Average835 14,183,343 $459,949,624 100.0 %$55.57 $524,799,461 $63.41 

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1.Does not include 37 month-to-month leases.

2.Annualized base rent per square foot for office properties is calculated by multiplying (i) cash base rents under commenced leases excluding tenant reimbursements as of September 30, 2025 by (ii) 12. On a per square foot basis, ABR is divided by square footage under commenced leases as of September 30, 2025. For all expiration years, ABR is calculated as (i) cash base rents at expiration under commenced leases divided by (ii) square footage under commenced leases as of September 30, 2025. The methodology is the same when calculating ABR per square foot either in place or at expiration for uncommenced leases. Rent data is presented without regard to cancellation options. Where applicable, rental rates converted to USD using the foreign currency exchange rate as of September 30, 2025. 

3.Reflects management offices occupied by the Company with various expiration dates.

47

Historical Office Tenant Improvements and Leasing Commissions

The following table summarizes historical information regarding tenant improvement and leasing commission costs for tenants at our office properties: 

Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Renewals(1)Number of leases34 39 92 109 Square feet167,851 237,151 606,131 636,182 Tenant improvement costs per square foot(2)(3)$3.19 $13.18 $13.69 $21.49 Leasing commission costs per square foot(2)6.37 6.40 8.87 10.13 Total tenant improvement and leasing commission costs(2)$9.56 $19.58 $22.56 $31.62 New leases(4)Number of leases41 46 117 128 Square feet347,599 302,121 1,097,669 951,236 Tenant improvement costs