BXP said Tuesday that it has signed a 10-year, approximately 467,000-square-foot, multi-building lease extension with Snap Inc. at Santa Monica Business Park. Published reports last month cited anonymous sources who said the tech firm would downsize its space by at least one-third and by as much as 75%.
“We are thrilled that Snap will continue to innovate and grow their business at Santa Monica Business Park,” said Alex Cameron, VP, leasing, Los Angeles regional director, BXP. “Their commitment to Santa Monica, engagement with the surrounding community and dedication to their employees’ experience are clear with this selection.”
Snap initially leased 300,000 square feet in 2017 at Santa Monica Business Park, at that time majority owned by Blackstone. BXP and Canada Pension Plan Investment Board acquired the 1.2-million-square-foot office campus for $627.5 million in 2018.
