Hudson Pacific Properties, Inc. (the “Company”) (NYSE: HPP)
today announced it has signed a new lease at its Rincon Center property in San Francisco to salesforce.com, the enterprise
leader that enables companies to connect with customers, partners and employees in entirely new ways.
The new 235,733 square foot long-term lease backfills nearly 200,000 square feet of currently occupied space, including approximately 156,000 square feet occupied by AT&T scheduled to expire on August 31, 2013, and takes an additional approximately 36,000 square feet of currently vacant space. Occupancy under the lease is scheduled to occur in phases through the middle of 2014.
“I am pleased to welcome salesforce.com to the Hudson Pacific family,” said Victor J. Coleman, Chairman and Chief Executive Officer of Hudson Pacific Properties, Inc. “This lease represents a long-term commitment from a thriving San Francisco-based technology company. We are very happy with salesforce.com as a tenant and the economics of the deal.”
Rincon Center is a mixed-use, two building, 5 & 6 story, Class-A-office and retail property located in San Francisco’s South Financial District submarket. The building resides on 3.5 acres and contains approximately 580,850 square feet of Class-A-office and premier retail space. The two office buildings consist of approximately 488,000 square feet of office and approximately 93,000 square feet of indoor and outdoor retail space.
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
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