Company: HPP
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001482512-25-000126
Chunk: 4

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 4
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 June 30, 2025, excluding tenant reimbursements. ABR per leased square foot calculated as (i) annual base rent divided by (ii) square footage under lease as of June 30, 2025.

4.Same-store office for the three months ended June 30, 2025 defined as all properties owned and included in our stabilized office portfolio as of April 1, 2024 and still owned and included in the stabilized office portfolio as of June 30, 2025. Since its acquisition as part of a portfolio in the 

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second quarter of 2015, Metro Center has not reached stabilized occupancy (92%) so has never been included in the same-store office portfolio, instead remaining the only office asset within that portfolio still held as a non-same-store, lease-up property. In an effort to simplify our in-service and same-store disclosure, Metro Center will be included within our same-store office properties for both the three and six months ended June 30, 2024 and June 30, 2025.

5.Included in our non-same-store property group.

6.Includes office properties that have not yet reached 92.0% occupancy since the date they were acquired as of June 30, 2025. Please see footnote 4 above regarding the treatment of Metro Center.

7.Includes studio properties owned and included in our portfolio as of April 1, 2024 and still owned and included in our portfolio as of June 30, 2025.

8.Refer to Repositioning table in this document for the office and studio projects under repositioning as of June 30, 2025.

9.Includes 546,000 square feet related to the office development Washington 1000 and 232,000 square feet related to Sunset Pier 94 Studios. 

10.Includes pending entitlement to develop approximately 500 residential units at 10900-10950 Washington. 

The following table provides information regarding the 15 largest tenants in our office portfolio based on HPP’s share of annualized base rent as of June 30, 2025:

Tenant# of PropertiesLease ExpirationTotal Occupied Square FeetHPP’s ShareAnnualized Base Rent(1)Percent of Annualized Base Rent1Google, Inc.32028-2029458,054 (2)$39,150,826 8.6 %2Netflix, Inc.39/30/31722,305 (3)26,