BXP has recently announced a 10-year lease extension with Snap Inc. at Santa Monica Business Park, covering approximately 467,000 square feet across multiple buildings. Despite previous reports of downsizing by up to 75%, the tech company remains committed to the location and will continue to innovate and grow their business there.
According to Alex Cameron, VP of leasing and Los Angeles regional director for BXP, they are delighted that Snap has chosen to stay at Santa Monica Business Park due to its strong community engagement and dedication towards employee satisfaction.
Snap originally leased 300,000 square feet in 2017 when Blackstone was majority owner of the office campus. In 2018, BXP partnered with Canada Pension Plan Investment Board in acquiring the property for $627.5 million.
This news marks a significant milestone for both companies as they continue their successful partnership at this prime location in Santa Monica.
