Innovative skincare company Formula Fig has signed a lease for a 1,000-square-foot space at The Culver Steps, a 122,000-square-foot office and retail destination in Culver City, California. The lease transaction was facilitated by the landlord, Hackman Capital Partners, and the tenant's representative, JLL. The asking rent for the space was $40 per square foot, and the lease marks Formula Fig's second location in the Los Angeles area. The new store is scheduled to open at the end of 2023.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: Lease
• Address: 9300 Culver Boulevard
• Market: Culver City

The landlord's representatives in the deal were Lee Shapiro and Christine Deschaine from Kennedy Wilson. On the other hand, JLL represented the tenant with Maureen Hawley, Devin Klein, Tony Morales, and Houman Mahboubi as the tenant's representatives. This lease agreement allows Formula Fig to expand its presence and offer their skincare products in Culver City, further enhancing their reach in the Los Angeles market.