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Hudson Pacific Properties Chief Operating Officer Andrew Wattula resigned last week after nearly a decade at the company.
Wattula told HPP leadership on Thursday that he was leaving the position he has held since 2021. Wattula began working at HPP in 2017 and was the executive vice president of Pacific Northwest and Canada office operations before his promotion to COO.
Wattula’s decision to resign "is not related to any financial or accounting issue or any disagreement with the Company on any matter relating to the Company’s operations, policies or practices," HPP wrote in a Monday filing with the Securities and Exchange Commission.
Wattula's total compensation for 2025, including bonuses and stock, was approximately $1.7M, according to an April filing. His responsibilities will be spread among other executives at HPP while "the Company considers potentially backfilling his role."
Hudson Pacific's office properties, which make up the majority of its portfolio, recorded a leasing uptick ahead of the company's most recent earnings call. San Francisco was especially bustling, as the REIT continued to benefit from the wave of AI tenants seeking space in the area.
In Southern California, the REIT has been in discussions with Netflix about the future of its tenancy at a trio of Hollywood office buildings where the streaming giant has leased 722K SF into 2031. Netflix is a major office tenant for HPP.
Netflix has just signed on to buy a soundstage complex in Studio City, but Hudson Pacific leadership has previously told investors that the complex's office space is leased long-term to other users and isn't likely to draw Netflix's office usage away.
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