Company: HPP
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001482512-25-000043
Chunk: 101

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 101
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45.54 3,359,432 61.35 Thereafter28 863,739 624,833 5.2 26,661,128 5.7 42.67 41,593,476 66.57 Building management use(3)54 296,733 256,178 2.1 — — — — — Signed leases not commenced28 183,345 156,602 1.3 5,950,095 1.3 38.00 7,186,298 45.89 Portfolio Total/Weighted Average844 14,314,214 12,073,966 100.0 %$468,573,746 100.0 %$57.13 $528,010,920 $64.38 

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1.Does not include 34 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 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) cash base rents at expiration under commenced leases divided by (ii) square footage under commenced leases as of March 31, 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 March 31, 2025. 

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

44

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 March 31,20252024Renewals(1)Number of leases27 40 Square feet215,180 215,556 Tenant improvement costs per square foot(2)(3)$18.61 $26.96 Leasing commission costs per square foot(2)8.28 10.61 Total tenant improvement and leasing commission costs(2)$26.89 $37.57 New leases(