Company: HPP
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001482512-25-000029
Chunk: 193

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 193
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As of December 31, 2024, our in-service office portfolio was 78.9% leased (including leases not yet commenced). Our same-store studio properties average percent leased for the twelve months ended December 31, 2024 was 73.8%. 

Current Year Highlights 

Property Acquisitions

The Company had no acquisitions of real estate during the year ended December 31, 2024.

Property Dispositions

During the year ended December 31, 2024, the Company sold its 3176 Porter Drive property for $24.8 million. Please refer to Part IV, Item 15 (a) “Exhibits, Financial Statement Schedules—Note 4 to the Consolidated Financial Statements—Investment in Real Estate” for details.

Held for Sale

As of December 31, 2024, the Company had two properties classified as held for sale—Foothill Research Center and Maxwell—as these properties were considered non-strategic to the Company’s portfolio. Please refer to Part IV, Item 15 (a) “Exhibits, Financial Statement Schedules—Note 4 to the Consolidated Financial Statements—Investment in Real Estate” for details.

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Under Construction and Future Development Projects

The following table summarizes the properties currently under construction and future development pipelines as of December 31, 2024:

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 Q4-2024Q3-2026TOTAL546,000 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(4)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