Allen Matkins sknapp@allenmatkins.com https://video.allenmatkins.com en-us Visualplatform http://blogs.law.harvard.edu/tech/rss Allen Matkins episodic no https://video.allenmatkins.com/files/rv0.0/sitelogo.gif https://video.allenmatkins.com http://video.allenmatkins.com/bisnowallen-matkins-future-of-2 <p>According to president Howard Stern, Hudson Pacific Properties took a leap of faith when it acquired 1455 Market in mid-Market at the end of 2010, "when many people wouldn't even reduce their speed to 30 mph" as they drove past. HPP saw an opportunity to buy an asset that was north of 1M SF for $90/PSF but the challenge was that half of it was a podium data center. Little did they now that the "fat boy 90k SF footprint" would be attractive to techies. Since acquisition, HPP has done a deal with Square for more than 300k and has leases for another floor in the podium. HPP hopes to grow in SoMA but "it's going to be more challenging based on the frothiness of the market."</p><p><a href="http://video.allenmatkins.com/bisnowallen-matkins-future-of-2"><img src="http://video.allenmatkins.com/27288171/38732847/26a97d1434abbfd18fb25a7ff5b7bede/standard/download-4-thumbnail.jpg" width="1200" height="960"/></a></p> http://video.allenmatkins.com/photo/38732847 Wed, 24 Apr 2013 17:00:00 GMT Bisnow/Allen Matkins - Future of SOMA - Howard Stern, Hudson Pacific According to president Howard Stern, Hudson Pacific Properties took a leap of faith when it acquired 1455 Market in mid-Market at the end of 2010, "when many people wouldn't even reduce their speed to 30 mph" as they drove past. HPP saw an opportunity to buy an asset that was north of 1M SF for $90/PSF but the challenge was that half of it was a podium data center. Little did they now that the "fat boy 90k SF footprint" would be attractive to techies. Since acquisition, HPP has done a deal with Square for more than 300k and has leases for another floor in the podium. HPP hopes to grow in SoMA but "it's going to be more challenging based on the frothiness of the market." According to president Howard Stern, Hudson Pacific Properties took a leap of faith when it acquired 1455 Market in mid-Market at the end of 2010, "when many people wouldn't even reduce their speed to 30 mph" as they drove past. HPP saw an... Allen Matkins 02:25 <p>According to president Howard Stern, Hudson Pacific Properties took a leap of faith when it acquired 1455 Market in mid-Market at the end of 2010, "when many people wouldn't even reduce their speed to 30 mph" as they drove past. HPP saw an opportunity to buy an asset that was north of 1M SF for $90/PSF but the challenge was that half of it was a podium data center. Little did they now that the "fat boy 90k SF footprint" would be attractive to techies. Since acquisition, HPP has done a deal with Square for more than 300k and has leases for another floor in the podium. HPP hopes to grow in SoMA but "it's going to be more challenging based on the frothiness of the market."</p><p><a href="http://video.allenmatkins.com/bisnowallen-matkins-future-of-2"><img src="http://video.allenmatkins.com/27288171/38732847/26a97d1434abbfd18fb25a7ff5b7bede/standard/download-4-thumbnail.jpg" width="1200" height="960"/></a></p> Allen Matkins Bay Bisnow California Howard Stern Hudson Pacific Real Estate San Francisco SOMA Tony Natsis