LOS ANGELES--(BUSINESS WIRE)--Hudson Pacific Properties, Inc. (the “Company”) (NYSE: HPP) today announced that Square Inc., a leading electronic payment service provider that enables credit card payments through mobile devices, has exercised its option to lease an additional 81,354 square feet of space at the Company’s 1455 Market Street property in San Francisco. In November 2012, Square signed a lease encompassing 246,078 square feet of initial occupancy at 1455 Market Street, with the 81,354 square foot expansion option.
Today’s announcement brings Square’s lease at 1455 Market to a total of 327,432 square feet of occupancy. 181,805 square feet is scheduled for commencement in March, 2013, 15,741 square feet is scheduled for commencement in July, 2013, and the remaining 129,886 square feet is scheduled for commencement in early 2014. The lease backfills 238,367 square feet of space currently occupied by the project’s largest tenant.
1455 Market Street is a 1,012,012 square foot, 22-story, Class-A office building situated on 3.01 acres and located in the dynamic Mid-Market submarket of San Francisco, which is fast becoming one of San Francisco’s newest technology and business hubs. 1455 Market is in close proximity to both Twitter’s new corporate headquarters and to some of San Francisco’s largest government and cultural institutions.
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. These markets include Los Angeles, Orange County, San Diego, San Francisco, Silicon Valley and the East Bay.
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