Company: HPP
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001482512-25-000126
Chunk: 105

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 105
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Executive Summary

Through our interest in Hudson Pacific Properties, L.P. (our operating partnership) and its subsidiaries, at June 30, 2025, our portfolio of owned real estate included office properties comprising approximately 14.2 million square feet, studio properties comprising approximately 45 sound stages and 1.7 million square feet and land properties comprising approximately 3.2 million square feet of undeveloped density rights. Our production services assets include vehicles, lighting and grip, production supplies and other equipment and the lease rights to 20 sound stages.

As of June 30, 2025, our in-service office portfolio was 76.2% leased (including leases not yet commenced). Our same-store studio properties were 73.8% leased for the average percent leased for the 12 months ended June 30, 2025. 

The following table summarizes our portfolio as of June 30, 2025: 

Number of PropertiesRentable Square Feet(1)Percent Occupied(2)Percent Leased(2)Annualized Base Rent per Square Foot(3)OFFICESame-store(4)4013,420,24375.1 %76.2 %$54.49 Stabilized non-same store(5)00— — — Total stabilized4013,420,24375.1 76.2 54.49 Lease-up(5)(6)00— — — Total in-service office4013,420,24375.1 76.2 54.49 STUDIOSame-store(7)31,205,02473.8 73.8 48.20 Non-same store(5)1243,300Total 41,448,324Repositioning(5)(8)1270,353— — — Development(5)(9)2778,0000.3 0.4 — Held-for-sale(5)00— — — Total repositioning, development and held-for-sale31,048,353Total office and studio properties4715,916,920Future development(10)73,233,589TOTAL5419,150,509

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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