Victor Coleman, president, chairman and CEO of Hudson Pacific Properties, Inc. (NYSE: HPP), joined REIT.com for a video interview at REITWeek 2017: NAREIT’s Investor Forum at the New York Hilton Midtown.
Coleman highlighted the company’s recent purchase of Sunset Las Palmas Studios. He noted that the studios are experiencing a “tremendous amount” of activity. Hudson Pacific is about to build a 100,000-square-foot office building on site and master develop another 400,000 square feet.
Hudson Pacific’s core markets of Seattle, the San Francisco Bay Area and Los Angeles have all seen an increase in activity, rental rate growth and absorption, according to Coleman. He said the trends are likely to remain in place through 2018.
Meanwhile, many investors are asking about the length of the technology business cycle, Coleman said. He noted that the cycle is not endless, but rather it is “additive,” as new forms of technology continuously develop.
The company also profits from the proliferation of content providers in Southern California, Coleman said. He added that many of the company’s assets benefit from the merging of entertainment and technology.