Snap Inc. Signs 10-Year Lease Extension At Santa Monica Business Park

Snap Inc., the renowned tech company behind Snapchat, is doubling down on its commitment to Santa Monica Business Park. In an impressive move, BXP, the leading real estate company, announced its recent signing of a remarkable 10-year lease extension with Snap Inc. This agreement secures approximately 467,000 square feet of premium office space across multiple buildings. This decision seems to counter recent speculations about Snap Inc. downsizing its operations.

A Thrilling Expansion for Snap in Santa Monica

Santa Monica Business Park is set to witness even more innovation and growth as Snap announces its commitment to continue expanding its operations there. The Los Angeles regional director of BXP, Alex Cameron, expressed great excitement about this decision, emphasizing Snap's dedication not only to the business park but also to the surrounding community. With this selection, Snap's focus on enhancing the overall experience for their employees is also evident. The future looks promising as Snap solidifies its presence in Santa Monica, and we can't wait to see what they will accomplish next.

A Major Expansion for Snap

The transformation of Santa Monica Business Park took a significant leap forward in 2017 when Snap, the tech giant, entered into a lease agreement for 300,000 square feet of office space. This move was just the beginning of a remarkable journey that would see the 1.2-million-square-foot office campus change hands in 2018. Boston Properties and the Canada Pension Plan Investment Board teamed up to acquire the sprawling campus for $627.5 million, solidifying their presence in Southern California's commercial real estate market.