Hudson Pacific Properties (HPP) Completes Acquisition of the Olympic-Bundy Media Campus for $89M
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Hudson Pacific Properties, Inc. (NYSE: HPP) has completed the acquisition of the Olympic-Bundy Media Campus located at 1901, 1925 and 1933 South Bundy Drive and 12333 West Olympic Boulevard in Los Angeles. The total purchase price for the property was $89.0 million. The Company had previously announced it had entered into a purchase agreement to acquire the property earlier this year.
The Olympic-Bundy Media Campus consists of 11.55 acres, with four existing buildings totaling approximately 233,600 square feet. Approximately 84,200 square feet of the project is available for office tenancy, of which 64% is currently leased through May 2013 to the Rubicon Project, an online advertising technology company. The remaining 149,400 square feet of space is scheduled to be renovated for best-in-class creative office use by early 2014 to capitalize on West Los Angeles’ growing technology, entertainment and media tenant demand.
The Olympic-Bundy Media Campus consists of 11.55 acres, with four existing buildings totaling approximately 233,600 square feet. Approximately 84,200 square feet of the project is available for office tenancy, of which 64% is currently leased through May 2013 to the Rubicon Project, an online advertising technology company. The remaining 149,400 square feet of space is scheduled to be renovated for best-in-class creative office use by early 2014 to capitalize on West Los Angeles’ growing technology, entertainment and media tenant demand.
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