Hudson Pacific Properties has acquired assets in two major California markets. The combined deal for the Olympic Bundy Media Campus in Los Angeles
and 901 Market Street in San Francisco
is reported to be worth $179 million. The names of the seller in both transactions have not been disclosed.
901 Market Street in the heart of San Francisco features 148,000 square feet of office space, along with 63,000 square feet of bottom-level retail space. Olympic Bundy Campus in Los Angeles has 148,000 square feet of office space.
The buyer's growth strategy has been to "increase the Company’s presence in markets with a diverse base of office tenants, with an emphasis on media, entertainment and technology tenancy," said Hudson Chairman and CEO Victor J. Coleman in a statement. He also added that these "highly desirable assets in dynamic submarkets of San Francisco and West Los Angeles deliver on this objective. These acquisitions present an opportunity to continue to enhance shareholder value by identifying assets in strong markets where our experience can create value.”