Hudson Pacific Signs 502,082 Sq Ft Lease with San Francisco
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 11 2026
0mins
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."
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy HPP?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on HPP
Wall Street analysts forecast HPP stock price to rise
11 Analyst Rating
3 Buy
7 Hold
1 Sell
Hold
Current: 15.190
Low
11.00
Averages
15.44
High
26.00
Current: 15.190
Low
11.00
Averages
15.44
High
26.00
About HPP
Hudson Pacific Properties, Inc. is a real estate investment trust serving dynamic tech and media tenants. The Company acquires, repositions, develops and operates office and studio properties in high-barrier-to-entry tech and media epicenters. It operates through two segments: office properties and related operations and studio properties and related operations. The Company, through its interest in Hudson Pacific Properties, L.P. (its operating partnership) and its subsidiaries, has a portfolio of owned real estate that includes office properties, studio properties comprising approximately 45 sound stages and land properties comprising undeveloped density rights. Its production services assets include vehicles, lighting and grip, production supplies and other equipment and the lease rights to approximately 20 sound stages. The Company’s portfolio consists of properties primarily located throughout the United States, Western Canada and Greater London, United Kingdom.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Ventas Appoints New Executive to Drive Outpatient Medical Business Growth
- Executive Appointment: Ventas has announced the appointment of Andrew L. Wattula as Executive Vice President of Outpatient Medical & Research and CEO of Lillibridge Healthcare Services, effective August 2026, aimed at enhancing the company's leadership in the medical and research sectors.
- Extensive Experience: Wattula brings over 20 years of commercial real estate experience, having served as COO at Hudson Pacific Properties, where he managed a 16.5 million square foot office and retail portfolio serving over 1,000 tenants, which is expected to provide Ventas with deep operational and leasing expertise.
- Strategic Focus: Wattula will collaborate with the company's existing teams to drive operational excellence and maximize portfolio performance, aiming to create greater value for Ventas shareholders and stakeholders, thereby strengthening the company's competitive position in the healthcare sector.
- Leadership Skills: Wattula's leadership abilities and client focus are expected to further enhance Ventas's outpatient medical and research teams, leveraging his integration skills in operations, leasing, and client engagement to drive performance in the rapidly evolving healthcare market.
See More
U.S. Stocks Close Mixed: Dow Hits All-Time High
- Dow Hits All-Time High: The Dow Jones Industrial Average rose by 0.64%, reaching a new all-time high, reflecting investor confidence in economic recovery, despite mixed overall market performance indicating divergent views among investors on various sectors.
- Chip Stocks Decline: With Marvell Technology and Intel falling over 9% and 8% respectively, the weakness in chipmakers weighed on the broader market, suggesting that the pressure on tech stocks may impact future investment sentiment.
- Weak Housing Data: U.S. May housing starts fell 15.4% month-over-month to a six-year low of 1.177 million, below expectations of 1.430 million, indicating that the weakness in the housing market could pose challenges to economic growth.
- Oil Prices Plummet: WTI crude oil prices dropped more than 5% to a 3.5-month low due to the U.S.-Iran agreement to reopen the Strait of Hormuz, enhancing expectations for a revival in oil supplies, which may affect the performance of energy stocks.
See More
Mixed US Stock Market with Energy Stocks Under Pressure
- Market Divergence: The S&P 500 Index fell by 0.18% and the Nasdaq 100 Index dropped by 0.83%, while the Dow Jones Industrial Average rose by 0.69% to a new all-time high, indicating a divergence in market performance, particularly as energy stocks are pressured by plunging crude oil prices.
- Weak Housing Data: US May housing starts fell by 15.4% month-over-month to a six-year low of 1.177 million, significantly below the expected 1.430 million, while building permits also declined slightly, reflecting weakness in the real estate market that could negatively impact overall economic growth.
- Oil Price Impact on Sentiment: WTI crude oil prices dropped over 3% to a 3.25-month low due to the US-Iran agreement to reopen the Strait of Hormuz, which has eased inflation expectations; while this provides short-term support for stocks, the long-term effects remain to be seen.
- Fed Meeting Focus: The market is turning its attention to the two-day FOMC meeting, where rates are expected to remain unchanged, but the press conference led by new Chair Kevin Warsh will be crucial, as investors will look for insights on future inflation outlook and policy direction.
See More
Mixed Performance in US Stock Indices Amid Energy Sector Pressure
- Mixed Market Performance: The S&P 500 Index rose by 0.11%, the Dow Jones Industrial Average increased by 0.57%, while the Nasdaq 100 Index fell by 0.18%, indicating a complex market sentiment particularly influenced by the pressure on energy stocks due to declining oil prices.
- Oil Price Impact: WTI crude oil prices dropped over 3% to a 3.25-month low, easing inflation expectations and providing support for stocks and bonds, reflecting a cautious market outlook on future economic growth.
- Weak Housing Data: US May housing starts fell by 15.4% month-over-month to a six-year low of 1.177 million, below the expected 1.430 million, indicating potential challenges for economic recovery stemming from a sluggish real estate market.
- FOMC Meeting Focus: Market attention shifts to the two-day FOMC meeting, where rates are expected to remain unchanged, but the press conference led by new Chair Kevin Warsh will be pivotal in shaping future monetary policy directions.
See More
San Francisco's 1455 Market Building Reaches 89% Leased
- Lease Agreement Signed: Hudson Pacific Properties has signed a 502,082-square-foot, 23-year lease with the City and County of San Francisco, increasing occupancy at 1455 Market to 89% and bringing the City's total footprint in the building to over 900,000 square feet, marking the largest office lease in San Francisco since 2018.
- Future Commitment: Beneficial occupancy is set to commence in Q2 2026, with the City's 900,000-square-foot commitment coterminous through 2049 and including two five-year extension options, ensuring long-term stable cash flow for Hudson Pacific.
- Strategic Implications: This transaction represents a 400 basis point increase in Hudson Pacific's office portfolio occupancy, directly advancing the company's goals of driving occupancy and high-quality cash flow while solidifying its position in the competitive San Francisco market.
- Market Recovery: CEO Victor Coleman noted that the City's long-term commitment will transform the Mid-Market area, indicating that Hudson Pacific is not only participating in San Francisco's recovery but actively driving it, showcasing its strategic choice in high-credit-quality tenants.
See More
Hudson Pacific Properties Declares Quarterly Dividend
- Quarterly Dividend Declaration: Hudson Pacific Properties, Inc. has declared a quarterly dividend of $0.2969 per share, consistent with previous distributions, indicating the company's stable cash flow and shareholder return strategy.
- Yield Performance: The forward yield of 8.19% reflects the company's attractiveness in the current market environment, potentially drawing more investor interest towards its stock.
- Shareholder Record Date: The dividend will be payable on June 29, with a record date of June 18 and an ex-dividend date also on June 18, ensuring shareholders receive their dividends promptly.
- Financial Performance Exceeds Expectations: Hudson Pacific reported Q1 2026 FFO of $0.25, beating expectations by $0.07, while revenue reached $181.85M, exceeding forecasts by $9.14M, showcasing the company's strong operational momentum.
See More
Ventas Appoints New Executive to Drive Outpatient Medical Business Growth
- Executive Appointment: Ventas has announced the appointment of Andrew L. Wattula as Executive Vice President of Outpatient Medical & Research and CEO of Lillibridge Healthcare Services, effective August 2026, aimed at enhancing the company's leadership in the medical and research sectors.
- Extensive Experience: Wattula brings over 20 years of commercial real estate experience, having served as COO at Hudson Pacific Properties, where he managed a 16.5 million square foot office and retail portfolio serving over 1,000 tenants, which is expected to provide Ventas with deep operational and leasing expertise.
- Strategic Focus: Wattula will collaborate with the company's existing teams to drive operational excellence and maximize portfolio performance, aiming to create greater value for Ventas shareholders and stakeholders, thereby strengthening the company's competitive position in the healthcare sector.
- Leadership Skills: Wattula's leadership abilities and client focus are expected to further enhance Ventas's outpatient medical and research teams, leveraging his integration skills in operations, leasing, and client engagement to drive performance in the rapidly evolving healthcare market.
See More
U.S. Stocks Close Mixed: Dow Hits All-Time High
- Dow Hits All-Time High: The Dow Jones Industrial Average rose by 0.64%, reaching a new all-time high, reflecting investor confidence in economic recovery, despite mixed overall market performance indicating divergent views among investors on various sectors.
- Chip Stocks Decline: With Marvell Technology and Intel falling over 9% and 8% respectively, the weakness in chipmakers weighed on the broader market, suggesting that the pressure on tech stocks may impact future investment sentiment.
- Weak Housing Data: U.S. May housing starts fell 15.4% month-over-month to a six-year low of 1.177 million, below expectations of 1.430 million, indicating that the weakness in the housing market could pose challenges to economic growth.
- Oil Prices Plummet: WTI crude oil prices dropped more than 5% to a 3.5-month low due to the U.S.-Iran agreement to reopen the Strait of Hormuz, enhancing expectations for a revival in oil supplies, which may affect the performance of energy stocks.
See More
Mixed US Stock Market with Energy Stocks Under Pressure
- Market Divergence: The S&P 500 Index fell by 0.18% and the Nasdaq 100 Index dropped by 0.83%, while the Dow Jones Industrial Average rose by 0.69% to a new all-time high, indicating a divergence in market performance, particularly as energy stocks are pressured by plunging crude oil prices.
- Weak Housing Data: US May housing starts fell by 15.4% month-over-month to a six-year low of 1.177 million, significantly below the expected 1.430 million, while building permits also declined slightly, reflecting weakness in the real estate market that could negatively impact overall economic growth.
- Oil Price Impact on Sentiment: WTI crude oil prices dropped over 3% to a 3.25-month low due to the US-Iran agreement to reopen the Strait of Hormuz, which has eased inflation expectations; while this provides short-term support for stocks, the long-term effects remain to be seen.
- Fed Meeting Focus: The market is turning its attention to the two-day FOMC meeting, where rates are expected to remain unchanged, but the press conference led by new Chair Kevin Warsh will be crucial, as investors will look for insights on future inflation outlook and policy direction.
See More
Mixed Performance in US Stock Indices Amid Energy Sector Pressure
- Mixed Market Performance: The S&P 500 Index rose by 0.11%, the Dow Jones Industrial Average increased by 0.57%, while the Nasdaq 100 Index fell by 0.18%, indicating a complex market sentiment particularly influenced by the pressure on energy stocks due to declining oil prices.
- Oil Price Impact: WTI crude oil prices dropped over 3% to a 3.25-month low, easing inflation expectations and providing support for stocks and bonds, reflecting a cautious market outlook on future economic growth.
- Weak Housing Data: US May housing starts fell by 15.4% month-over-month to a six-year low of 1.177 million, below the expected 1.430 million, indicating potential challenges for economic recovery stemming from a sluggish real estate market.
- FOMC Meeting Focus: Market attention shifts to the two-day FOMC meeting, where rates are expected to remain unchanged, but the press conference led by new Chair Kevin Warsh will be pivotal in shaping future monetary policy directions.
See More
San Francisco's 1455 Market Building Reaches 89% Leased
- Lease Agreement Signed: Hudson Pacific Properties has signed a 502,082-square-foot, 23-year lease with the City and County of San Francisco, increasing occupancy at 1455 Market to 89% and bringing the City's total footprint in the building to over 900,000 square feet, marking the largest office lease in San Francisco since 2018.
- Future Commitment: Beneficial occupancy is set to commence in Q2 2026, with the City's 900,000-square-foot commitment coterminous through 2049 and including two five-year extension options, ensuring long-term stable cash flow for Hudson Pacific.
- Strategic Implications: This transaction represents a 400 basis point increase in Hudson Pacific's office portfolio occupancy, directly advancing the company's goals of driving occupancy and high-quality cash flow while solidifying its position in the competitive San Francisco market.
- Market Recovery: CEO Victor Coleman noted that the City's long-term commitment will transform the Mid-Market area, indicating that Hudson Pacific is not only participating in San Francisco's recovery but actively driving it, showcasing its strategic choice in high-credit-quality tenants.
See More
Hudson Pacific Properties Declares Quarterly Dividend
- Quarterly Dividend Declaration: Hudson Pacific Properties, Inc. has declared a quarterly dividend of $0.2969 per share, consistent with previous distributions, indicating the company's stable cash flow and shareholder return strategy.
- Yield Performance: The forward yield of 8.19% reflects the company's attractiveness in the current market environment, potentially drawing more investor interest towards its stock.
- Shareholder Record Date: The dividend will be payable on June 29, with a record date of June 18 and an ex-dividend date also on June 18, ensuring shareholders receive their dividends promptly.
- Financial Performance Exceeds Expectations: Hudson Pacific reported Q1 2026 FFO of $0.25, beating expectations by $0.07, while revenue reached $181.85M, exceeding forecasts by $9.14M, showcasing the company's strong operational momentum.
See More
