Company: HPP
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001482512-25-000043
Chunk: 97

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 97
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 square feet on April 30, 2025 and (ii) 52,802 square feet on April 30, 2033.

Overview 

Business Acquisitions

We had no business acquisitions during the three months ended March 31, 2025.

Property Acquisitions

We had no property acquisitions during the three months ended March 31, 2025.

Property Dispositions

During the three months ended March 31, 2025, the Company sold its Maxwell and Foothill Research Center properties for $46.0 million and $23.0 million, respectively. See Part I, Item 1 “Note 3 to the Consolidated Financial Statements—Investment in Real Estate” for details. A portion of the net proceeds of these sales was used to repay outstanding amounts on the unsecured revolving credit facility.

Held for Sale

As of March 31, 2025, the Company had one property classified as held for sale—625 Second—as this property was considered non-strategic to the Company’s portfolio. See Part I, Item 1 “Note 3 to the Consolidated Financial Statements—Investment in Real Estate” for more detail.

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In Process and Future Development Projects

The following table summarizes the properties currently under construction and future development projects as of March 31, 2025: 

TypeSubmarketEstimated Square Feet(1)Estimated Completion DateEstimated Stabilization DateUnder Construction:New York, New YorkSunset Pier 94 Studios(2)StudioManhattan232,000 Q4-2025Q3-2026TOTAL232,000 Recently Completed:Seattle, WashingtonWashington 1000OfficeDenny Triangle546,000 Q4-2024Q4-2026TOTAL546,000 Future Development Pipeline:Los Angeles, CaliforniaSunset Las Palmas Studios—Development(3)StudioHollywood617,581TBDTBDSunset Gower Studios—Development(3)Office/StudioHollywood478,845TBDTBDSunset Bronson Studios Lot D—Development(3)ResidentialHollywood33 units/19,816TBDTBDElement LA—DevelopmentOfficeWest Los Angeles500,000TBDTBD10900/10950 Washington(4)ResidentialWest Los AngelesN/ATBDTBDVancouver, British ColumbiaBurrard Exchange(5)OfficeDowntown Vancouver450,000TBDTBDGreater London, United KingdomSunset Waltham Cross Studios(6)Studio