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Snap Inc. Renews Full 467K-SF Space in Santa Monica

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.

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Inside The Story

BXP's Cameron

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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