{"id":1004158653,"date":"2016-11-10T00:16:28","date_gmt":"2016-11-10T08:16:28","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004158653"},"modified":"2020-05-13T00:51:13","modified_gmt":"2020-05-13T08:51:13","slug":"hudson-pacific-sells-playa-vista-asset-for-80m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-sells-playa-vista-asset-for-80m\/","title":{"rendered":"Hudson Pacific Sells Playa Vista Asset for $80M"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004158755\" style=\"width: 353px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/12655_Jefferson.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004158755\" data-attachment-id=\"1004158755\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-sells-playa-vista-asset-for-80m\/12655-jeferson-property-photographed-for-hudson-pacific-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/12655_Jefferson.jpg\" data-orig-size=\"1200,701\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Eric Staudenmaier&quot;,&quot;camera&quot;:&quot;ILCE-7RM2&quot;,&quot;caption&quot;:&quot;12655 Jeferson property photographed for Hudson Pacific&quot;,&quot;created_timestamp&quot;:&quot;1477132981&quot;,&quot;copyright&quot;:&quot;\\u00a92016 Eric Staudenmaier&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.004&quot;,&quot;title&quot;:&quot;12655 Jeferson property photographed for Hudson Pacific&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"12655 Jefferson Blvd. Playa Vista, Calif.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;12655 Jefferson Blvd. Playa Vista, Calif. &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/12655_Jefferson.jpg?w=1024\" class=\"wp-image-1004158755 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/12655_Jefferson.jpg\" alt=\"12655 Jefferson Blvd. Playa Vista, Calif. \" width=\"343\" height=\"200\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/12655_Jefferson.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/12655_Jefferson.jpg?resize=300,175 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/12655_Jefferson.jpg?resize=768,449 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/12655_Jefferson.jpg?resize=1024,598 1024w\" sizes=\"auto, (max-width: 343px) 100vw, 343px\" \/><\/a><p id=\"caption-attachment-1004158755\" class=\"wp-caption-text\">12655 Jefferson Blvd. Playa Vista, Calif.<\/p><\/div>\n<p><strong>Los Angeles<\/strong>\u2014<a href=\"https:\/\/hudsonpacificproperties.com\/\" rel=\"nofollow\" target=\"_blank\">Hudson Pacific Properties Inc.<\/a> announced it has completed the sale of an 100,756-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/office\/\" target=\"_blank\">office<\/a> redevelopment for $80 million. Located at 12655 Jefferson Blvd. in Playa Vista, Calif., the transaction closed following full pre-leasing to tenant <a href=\"https:\/\/www.wework.com\/\" rel=\"nofollow\" target=\"_blank\">WeWork<\/a>, which occupies 82,889 square feet of space, and <a href=\"https:\/\/www.dentsuaegisnetwork.com\/\" rel=\"nofollow\" target=\"_blank\">Dentsu Aegis Network<\/a>, which occupies 20,000 square feet, and completion of construction and tenant build-outs.<\/p>\n<p>The company plans to use the sale proceeds to repay amounts drawn from its unsecured revolving credit facility. The six-story property was originally built in 1985 and was completely renovated in 2015.<\/p>\n<p>&#8220;The Playa Vista transaction is another example of Hudson Pacific\u2019s success in repositioning aging properties to create significant value for investors,&#8221; Alex Vouvalides, chief investment officer of Hudson Pacific Properties, told <em><a href=\"https:\/\/www.commercialsearch.com\/news\/\" target=\"_blank\">CPE<\/a><\/em>. &#8220;We turned 12655 Jefferson into an office and creative workspace ideal for employee productivity and collaboration. Our ability to identify opportunities and transform portfolio assets is what we do best.\u201d<\/p>\n<p>The building features 4 elevators, 300 parking spaces and high ceilings. The Playa Vista asset was previously owned by <a href=\"https:\/\/www.highbrookinvestors.com\/\" rel=\"nofollow\" target=\"_blank\">HighBrook Investment Management<\/a>.<\/p>\n<p><em>Image courtesy of Hudson Pacific Properties <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company intends to use net proceeds from the sale to repay amounts drawn from its unsecured revolving credit facility. <\/p>\n","protected":false},"author":746,"featured_media":1004158755,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1594,21742,21747,15],"tags":[],"class_list":["post-1004158653","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-los-angeles","category-latest","category-office","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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