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Hudson Pacific Inks Two of State’s Largest Office Deals
Los Angeles-based Hudson Pacific Properties closed two significant office leases in California. The largest was a 130,000-square-foot lease with coupon tool Honey in Downtown Los Angeles’ Art District. The REIT also signed a 104,135-square-foot deal with payments processing company Square Inc. in San Francisco.
Hudson Pacific Properties’ Victor Coleman says, “We had a strong second quarter, particularly in terms of leasing and building upon our foundation for long-term growth through prudent capital recycling. Already standout West Coast market fundamentals continued to improve.”
Honey took the entire historic Coca-Cola building at 4th and Merrick streets (pictured) in what qualifies as one of Los Angeles’ largest HQ moves this year. The former syrup-making plant that Hudson Pacific acquired for more than $49 million in 2015 is envisioned to house 275 Honey employees at initial occupancy in mid-2019.
Savills Studley’s Corey Davidson and Liron Nelik represented Honey. CBRE’s Phillip Ruhl, John Zanetos, Rob Waller and Patrick Amos, along with RKF’s Mark Finkle, marketed the property on behalf of the landlord.
Square will now occupy nearly 470,000 square feet of HQ space in San Francisco’s 1455 Market St. The company initially took 150,000 square feet in 2012, and has subsequently expanded at a Mid-Market building Hudson Pacific acquired for $93 million in 2010.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Lease
