Disciplined investing allows us to deliver for our shareholders

Financial Results

Hudson Pacific Properties' leasing momentum continued through the first quarter of 2019, as tech and media companies continue to quickly absorb office and studio space within our portfolio to accommodate their growth. We signed another one million square feet of leases across our markets. We completed a landmark, nearly 600,000-square-foot lease with Google for all of our One Westside redevelopment in West Los Angeles, and WeWork leased the entire office portion of our Maxwell redevelopment in the Los Angeles Arts District. As a result, our one-million-square-foot-plus pipeline of value creation projects is now 90% pre-leased. We have also renewed or backfilled, or are in leases, LOIs, or proposals, on 65% of our remaining 2019 expirations, which are 17% below market.

This quarter, we also announced our anticipated entrée into the Vancouver office market via a joint venture with Blackstone Property Partners. Bentall Centre, in terms of its ownership structure, scale, scope, and value creation potential, exemplifies our skill and creative ability to access exceptional new avenues for growth.

Victor Coleman

Chairman & CEO, Hudson Pacific Properties

Quarterly & Annual Results