Hudson Pacific Properties, Inc. (the “Company”) 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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