Hudson Pacific Sells San Jose Office Property for $75.5 Million

Hudson Pacific Properties completed a $75.5 million sale of its Skyport Plaza office complex in North San Jose, directing proceeds from it and a separate property sale toward debt reduction.

The property spans 419,000 square feet. Its sale price is before prorations and closing costs. Hudson Pacific plans to put net proceeds from the Skyport Plaza transaction and a separate real estate sale tied to Quixote operations toward its unsecured revolving credit facility, leaving $30 million outstanding.

Skyport Plaza is one of five sales Hudson Pacific had completed in 2026 as of the announcement. Gross proceeds from the company’s dispositions that year were nearing $190 million.

Hudson Pacific Chairman and CEO Victor Coleman described Skyport Plaza as largely vacant and said it would have required significant capital to lease up. He said the sale “adds to our liquidity” and provides flexibility to fund leasing at higher-potential properties and support ongoing operations.

The company also sold 2001 Gateway, a 161,000-square-foot North San Jose office building, for $25 million. That property was 55% leased, and its net proceeds were designated for general corporate purposes.