Hudson Pacific Snags 125 KSF Tenant for Southern California Office Property
- Jul 20, 2012
Hudson Pacific has staved off a potentially sizable gap in its tenant roster at City Plaza in Orange, Calif., courtesy of a new lease agreement with CashCall Inc. The consumer finance lender has committed to 125,200 square feet at the 334,000-square-foot office tower.
CashCall will make its home on seven floors of the 19-story, Class A building come this September. The lease agreement comes not a moment too soon. “This lease is a significant transaction for our company, as it backfills nearly 87,000 square feet of an expiring lease with Kondaur Capital Corp., the building’s largest current tenant, with minimal downtime,” said Victor Coleman, chairman & CEO of Hudson Pacific.
With CashCall on board, Capital Plaza is 92 percent leased. It’s an achievement that contradicts the current state of the office market in the city. According to a report by commercial real estate services firm Voit Co., the vacancy rate there was just over 14.3 percent in the second quarter.