Hudson Pacific Properties, Inc. Announces New Lease with NFL at 10950 and 10900 Washington Buildings
Hudson Pacific Properties, Inc. Announces New Lease with NFL at 10950 and 10900 Washington Buildings in Southern California
LOS ANGELES--(BUSINESS WIRE)-- Hudson Pacific Properties, Inc. (the "Company")
NFL Media is currently the major tenant at 10900 and 10950 Washington, where it occupies office space and two sound stages used exclusively to broadcast the NFL Network, NFL.com and NFL Mobile. Under the new lease terms, the NFL will increase its occupancy by an additional 22,221 square feet effective this July, completely backfilling space occupied by another tenant scheduled to expire this month, and extend through the middle of 2017.
"As the owner and operator of premier office and studio properties in California, Hudson Pacific Properties has considerable experience tailoring our property operations to meet the specific needs of media companies such as NFL Media. This extension of our lease with NFL Media exemplifies our strength in operating best-in-class office properties, with a strong media and entertainment tenancy," said Victor J. Coleman, Chairman and Chief Executive Officer of Hudson Pacific Properties.
Located in one of West Los Angeles' premier entertainment business districts, the 10950 and 10900 Washington properties total 168,943 square feet on 5.5 acres. 10950 Washington consists of an 86,987-square-foot, three-story office building and a 71,886 square foot building containing office space, two sound stages and a café. Located immediately adjacent to 10950 Washington, the 10900 Washington property is a two-story 9,919-square-foot office building.
About Hudson Pacific Properties
Hudson Pacific Properties, Inc. is a full-service, vertically integrated real estate company focused on owning, operating and acquiring high-quality office properties and state-of-the-art media and entertainment properties in select growth markets primarily in Northern and Southern California. The Company's strategic investment program targets high barrier-to-entry, in-fill locations with favorable, long-term supply-demand characteristics in select target markets, including Los Angeles, Orange County, San Diego and San Francisco. The Company's portfolio currently consists of approximately 5.5 million square feet, not including undeveloped land that the Company believes can support an additional 2.0 million square feet. The Company has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. Hudson Pacific Properties is a component of the Russell 2000® and the Russell 3000® indices. For additional information, please visit www.hudsonpacificproperties.com.
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond the Company's control, that may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2012 filed with the Securities and Exchange Commission on March 14, 2013, and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission.
Hudson Pacific Properties, Inc.
Chief Financial Officer
Investor / Media Contact:
Addo Communications, Inc.
KEYWORDS: United States North America California
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