Hudson Pacific Signs 502,082 Sq Ft Lease with San Francisco
Hudson Pacific Properties announced a new 502,082-square-foot, 23-year lease with the City and County of San Francisco at 1455 Market Street, bringing occupancy at the approximately 1 million-square-foot tower to 89% and the City's total footprint in the building to over 900,000 square feet. This latest lease represents the largest office lease signed in San Francisco since 2018. Victor Coleman, Chairman and CEO of Hudson Pacific, said: "The right anchor tenant in the right asset can transform a neighborhood, and that's exactly what the City's long-term commitment at 1455 Market can do for Mid-Market. But this transaction is equally a milestone for Hudson Pacific. Three off-market leases with a high-credit-quality tenant, a building taken from 47% to 89% occupied, and meaningful occupancy and NOI growth for our portfolio-all in one of the most closely watched office markets in the country. San Francisco is on the upswing, and Hudson Pacific isn't just participating in that recovery, we're helping drive it. We're proud to do so alongside Mayor Lurie and the City officials whose partnership and commitment to 1455 Market made this possible."
