California + Office | December 14, 2016

Hudson Pacific Expands Palo Alto Presence with $150M Leasehold

Los Angeles-based Hudson Pacific Properties, Inc. completed a $150-million leasehold interest transaction involving a five-asset office campus in Silicon Valley. The seller was a joint venture owned by Lionstone Investments and CalSTRS.

Page Mill Hill is a 182,676-square-foot property in Palo Alto, CA’s Stanford Research Park, where Hudson Pacific holds six properties comprising more than one million square feet. The REIT is the largest office landlord in the park, a university-affiliated business center focused on innovation and R&D.

Hudson Pacific’s Victor Coleman says, “We see an opportunity to make our signature improvements to Page Mill Hill to drive leasing demand and capture the mark-to-market on rents as leases roll.”

Hudson Pacific has become the the largest institutional owner of office space in Silicon Valley, with 22 assets totaling more than seven million square feet.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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