HPP Reports Tenant Exercises Option to Lease Added ~81K Sq. Ft. at 1455 Market Street
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.
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