Hudson Pacific Properties, Inc. Announces 130,434-Square-Foot Lease Expansion with UBER at 1455 Market Street in San Francisco

LOS ANGELES--(BUSINESS WIRE)--

Hudson Pacific Properties, Inc. (the “Company”) HPP today announced that UBER Technologies, Inc.—a cutting-edge technology platform designed to connect drivers and riders in order to help facilitate convenient, seamless transportation options—has expanded its lease by an additional 130,434 square feet at the Company's 1455 Market Street property in San Francisco. In July 2013, Square signed a lease encompassing 88,134 square feet of initial occupancy at 1455 Market Street.

Today's announcement brings UBER's lease at 1455 Market to a total of 218,568 square feet. Occupancy under the expansion is expected to occur in stages, with 24,270 square feet of currently vacant space scheduled for commencement in October 2014, and 14,364 square feet of currently vacant space scheduled for commencement in November 2014. The remaining 91,800 square feet backfills a corresponding amount of space currently occupied by the project's largest tenant that was scheduled to expire in December 2015; this space is scheduled to be occupied in April 2015. With the execution of this expansion and earlier announced lease with Rocket Fuel, Inc., the office component of 1455 Market is effectively fully leased.

“I am delighted with UBER's decision to increase their occupancy at 1455 Market Street. This lease expansion with a very successful San Francisco-based technology company exemplifies Hudson's strength in operating best-in-class office properties, with a strong technology, media and entertainment tenancy,” said Victor J. Coleman, Chairman and Chief Executive Officer of Hudson Pacific Properties.

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 has become one of San Francisco's newest technology and business hubs. 1455 Market is in close proximity 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 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 6.4 million square feet, not including undeveloped land that the Company believes can support an additional 1.8 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.

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