Hudson Pacific Residence’biggest 2021 expiry is Google’s 207,857-square-foot lease at 3400 Hillview in Palo Alto’s Stanford Research study Park. But, the seven-year renewal lease is confirmed for December 2021.
“It’s early March as well as we’ve currently efficiently addressed our largest 2021 expiry,” claimed Victor Coleman, chairman and also chief executive policeman of Hudson Pacific Residence Inc. (HPP). “Based upon our solid year-to-date activity in our Peninsula and also Valley markets alone, we’ve reduced our remaining expiries for the year to 7.5 percent of our annualized base rent with in-place rents for those leases approximately 20 percent below market. We anticipate this energy will continue provided the demand for content, document equity capital moves, and also more financial re-opening and also vaccine circulations, all of which will drive growth and more tenants back to the workplace in our markets.”
Year-to-date, HPP has actually authorized 296,475 square feet of brand-new and renewal deals across the Peninsula and also Silicon Valley.
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Lisa Brown has even more than 30 years of experience in business communications and also marketing monitoring with companies consisting of Grubb & & Ellis, Marcus & Millichap and NAIOP.
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Released at Wed, 03 Mar 2021 19:36:30 +0000