HIGHBuilt-inProperty_type
office properties
“10-K Item 1: 'Office properties comprising approximately 13.9 million square feet'”
HPP · Concentration risk · 10-K extracted
Hudson Pacific Properties (HPP) concentration risks
Updated
The most significant concentration Hudson Pacific Properties discloses is office properties, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Hudson Pacific Properties’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 4 disclosed concentrations
HIGH1
MEDIUM2
LOW1
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMOutside partyCustomer
42.7%
top-15 office tenants
“10-K Item 1A: 'the 15 largest tenants in our office portfolio represented approximately 42.7% of the HPP's share of the total annualized base rent generated by our office properties'”
MEDIUMBuilt-inGeographic
California and Pacific Northwest
“10-K Item 1: 'Our portfolio of owned real estate is concentrated in California, the Pacific Northwest, New York, and Western Canada.'”
LOWOutside partyCustomer
20.6%
Google, Netflix, Amazon
“10-K Item 1A: 'our three largest tenants were Google, Inc., Netflix, Inc. and Amazon, which together accounted for 20.6% of the HPP's share of the annualized base rent'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile reflects both a property-type specialization and a degree of tenant and geographic concentration that are typical of, but not uniform across, west coast office REITs. The portfolio is defined by office properties, a high-share structural exposure that ties the entire revenue base — rental income, lease renewals, and occupancy — to the performance of the office sector. The company's financial results are therefore substantially a function of office demand trends rather than diversified across multiple property types. Within the office tenant base, the 15 largest tenants represented approximately 42.7% of the total annualized base rent generated by office properties. That is a moderate share from the top-15 tenants, indicating meaningful but not extreme customer concentration; the rent roll is distributed across a broad set of occupants beyond the top tier. The three largest tenants — Google, Inc., Netflix, Inc., and Amazon — together accounted for 20.6% of the annualized base rent from office properties, a small individual combined share that limits the idiosyncratic impact of any single name. Geographically, the portfolio is concentrated in California, the Pacific Northwest, and adjacent markets, a moderate structural tilt toward technology-sector employment hubs where office demand is correlated with tech industry growth and remote work adoption rates. The geographic and property-type concentrations reinforce each other, making the company's performance sensitive to tech sector hiring trends in west coast markets. Monitoring office demand dynamics and technology-sector employment in these markets is the primary due-diligence priority.
For the engine’s reasoning on HPP’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · REIT - Office
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| CDP | COPT Defense Properties | 2 | 2 | 1 | 5 |
| ARE | Alexandria Real Estate Equities | 2 | 0 | 0 | 2 |
| BXP | BXP, Inc. | 2 | 0 | 0 | 2 |
| CUZ | Cousins Properties Incorporated | 1 | 3 | 1 | 5 |
| HPP● | Hudson Pacific Properties, Inc. | 1 | 2 | 1 | 4 |
| DEI | Douglas Emmett, Inc. | 1 | 0 | 1 | 2 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.