The property involved in this lease transaction is located at 2834 Colorado Avenue in Santa Monica, featuring a total office space of 65,378 square feet. The deal includes two leases signed by an LLC tied to developer Jack Walter, with FIGS expanding its footprint by 39,260 square feet and O Positiv occupying 26,118 square feet in the Santa Monica Gateway area, which is experiencing a market vacancy near 28%.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not disclosed
• Address: 2834 Colorado Avenue
• Market: Santa Monica
• Landlord: Jack Walter
• Tenant: Trina Spear - FIGS
• Tenant: Bobby Bitton - O Positiv
• Landlord's Representative: Kent Handleman & Douglas Brown - Lincoln Property Company
• Tenant's Representatives: Jacob Bobek, Scott Steuber, Jonathan Dezzutti & Michael Gray - CBRE; Andrew Sinasohn - Zacuto Group

This lease transaction incorporates significant representation, with CBRE handling the negotiation for FIGS and Zacuto Group representing O Positiv. The landlord's interests were managed by Lincoln Property Company, showcasing a collaborative effort among the involved parties in leveraging the leased space amid a competitive market.