LOS ANGELES--(EON: Enhanced Online News)--Hudson Pacific Properties, Inc. (the “Company”) (NYSE: HPP) today announced it has signed a new lease for its 3401 Exposition Boulevard property located in Santa Monica, California.
“We are happy to announce the signing of this new lease with Deluxe, a mere five months after having purchased this exceptional renovation property”
Deluxe Entertainment Services Group Inc., a leading provider of services and technologies for the global digital media and entertainment industry, signed a new 12-year, 63,376-square-foot lease for the entire 3401 Exposition Boulevard building. Situated at the corner of Exposition Boulevard and Centinela Avenue in the heart of the Olympic Media Corridor in Santa Monica, 3401 Exposition Boulevard has been under renovation since the Company acquired the property in May of 2013.
“We are happy to announce the signing of this new lease with Deluxe, a mere five months after having purchased this exceptional renovation property,” said Victor J. Coleman, Chairman and Chief Executive Officer of Hudson Pacific Properties, Inc. “With exposed brick and timber, operable windows, skylights, a roof deck and easy access to the 10 Freeway and the new Expo Light Rail Line currently under construction along Exposition Boulevard, this property is ideal creative office space for Deluxe. We are pleased with the terms of the lease, which has an early third quarter of 2014 commencement.”
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 the Pacific Northwest and 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, San Francisco and Seattle. The Company’s portfolio currently consists of approximately 6.2 million square feet, not including undeveloped land that the Company believes can support an additional 1.6 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.