Snap Inc. Expands Santa Monica Headquarters By 140K SF
The social media firm is replacing Activision Blizzard at Boston Properties’ campus in Silicon Beach
By Greg Cornfield June 4, 2021 1:05 pm
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Snap Inc. — the creator of the photo messaging platform Snapchat — has significantly expanded its headquarters in Santa Monica, Calif., Commercial Observer has learned. Two sources familiar with the deal said the social media company added 140,000 square feet to its existing property at the massive Santa Monica Business Park, owned by Boston Properties.
The landlord did not return requests for comment regarding the tenant, but announced Thursday that a “technology company” expanded its lease at the 1.2 million-square-foot creative campus at 3100 Ocean Park Boulevard. Snap was not immediately available for comment.
The lease comes days after CO reported that Silver Creek Development secured a $34 million refinance for a 63,958-square-foot office in Venice that’s fully leased by Snap Inc. For Boston Properties, it also comes after video game producer Activision Blizzard vacated almost 215,000 square feet at the Santa Monica campus.
Boston Properties acquired Santa Monica Business Park for $627.5 million in 2018.
The REIT is concentrated in five markets – Boston, Los Angeles, New York, San Francisco and Washington, D.C. Its portfolio totals 51.6 million square feet and 196 properties, including nine properties under construction.
Earlier this year, Roku, the streaming device maker, signed a 10-year lease for 72,000 square feet at Boston Properties’ Colorado Center office campus, another 1.2 million-square-foot property in Santa Monica.
