Hudson Pacific Sells Los Angeles Campus for $231M

Riot Games has purchased its Los Angeles office campus from Hudson Pacific Properties for $231 million, paying its former landlord $150 million plus an additional $81 million to terminate its lease. The 12-acre campus, called Element LA, totals 284,037 square feet across five buildings.

Hudson Pacific said in prepared remarks that it paid back $206 million of CMBS debt associated with the property using proceeds from the sale.

Riot Games, known for developing games such as League of Legends and Valorant, also paid for the sale’s Measure ULA transfer taxes, according to Bisnow. Measure ULA subjects properties sold for more than $5 million in Los Angeles to a 4 percent tax, with the tax revenue being dedicated to affordable housing development and homelessness prevention programs.

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Element LA was originally built in 1953 as an industrial asset, according to Yardi Matrix. An adaptive reuse project, Hudson Pacific purchased the property for $101 million in 2013 and converted it into a creative office asset in 2015. The campus is LEED Gold certified and includes amenities such as an on-site cafeteria, fitness center, basketball court, gaming lounge and outdoor green spaces.

Located at 12333 W. Olympic Blvd. in West Los Angeles, Element LA is about 13.5 miles outside downtown Los Angeles. The property is a few blocks from access to Interstate 10, while Los Angeles International Airport is some 11 miles away.

High transaction activity in Los Angeles

Los Angeles recorded more than $2.1 billion in office transaction volume in 2025 through October, according to a Yardi Matrix office report, ranking it fifth nationally for office transaction volume.

In one of the largest deals of 2025, Tishman Speyer sold Maple Plaza, a 290,000-square-foot office building in Beverly Hills, Calif., for $205.3 million in September. Kilroy Realty Corp. acquired the 75-percent-leased asset, marking the firm’s entrance into Beverly Hills.

Another notable deal this year was Uncommon Developers’ purchase of Figueroa at Wilshire, a 1 million-square-foot office tower in Los Angeles’ Financial District. Brookfield Properties sold the asset for $210 million, a 42 percent loss from its 2005 sale price of $356.7 million.