Boston Properties has signed a 140,000-square-foot lease expansion with an unnamed tech company at Santa Monica Business Park, a 1.2 million-square-foot office campus at 3100 Ocean Park Blvd.
The lease is a symbol of the viability of the Santa Monica office market, which has seen a dramatic decrease in leasing activity during the pandemic. Jonathan Lange, SVP of the Los Angeles Region at Boston Properties, said the market is still attractive for creative companies and creative talent. The property has a roster of high-profile tech and entertainment tenants.
This isn't the only lease deal signaling renewed office demand in West Los Angeles. In April, entertainment tech company Roku signed a major lease in Santa Monica. The company inked a 10-year deal with Boston Properties for a 72,000-sqaure-foot space at Colorado Center, a 1.2 million-square-foot class-A office complex. The entertainment company was specifically looking for space to "connect, collaborate, and innovate," according to a statement from the firm's global real estate, and the this office property fit the bill.
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