Lincoln Property Company Arranges 65K SF in Lease Deals in Santa Monica

Santa Monica has one of the highest office vacancy rates in Los Angeles County, but at least one landlord is managing to secure new leases in the coastal enclave.

An LLC tied to developer Jack Walter landed a pair of leases totaling 65,378 square feet at Santa Monica Gateway, a two-building, Class A office development completed in 2018, Commercial Observer has learned. Medical uniforms and apparel company Figs inked a 39,260-square-foot headquarters expansion lease for the entire fourth floor of 2834 Colorado Avenue, while health supplement brand O Positiv took 26,118 square feet at the same building’s first floor. 

Figs previously occupied the 26,118-square-foot first floor, beginning in 2019. The apparel company’s initial lease term was for 10 years, though it amended its contract in December to expand into the building’s top floor. 

CBRE’s Jacob Bobek, Scott Steuber, Jonathan Dezzutti and Michael Gray represented Figs in the new lease deal, while Zacuto Group’s Andrew Sinasohn represented O Positiv and Lincoln Property Company’s Kent Handleman and Douglas Brown represented the landlord.

Other tenants at Santa Monica Gateway include global media platform Lionsgate Entertainment, as well as Atom Tickets and Tiato Kitchen and Venue. Gwyenth Paltrow’s lifestyle brand Goop inked a 10-year, 57,000-square-foot lease at 2700 Colorado Avenue in 2018, though the brand no longer appears to occupy the property. 

Santa Monica’s office market in general, despite the city’s heady location, has struggled in the post-pandemic era. Its total office availability in the fourth quarter of 2025 was nearly 28 percent, placing it on par with the perennially beleaguered Downtown L.A., according to a recent market report by Avison Young. 

Nick Trombola can be reached at ntrombola@commercialobserver.com.