VITAL STATISTICS
SANTA MONICA BUSINESS PARK
Ocean Park Blvd., Santa Monica
Square Footage: 466,733
In December, Snap Inc. agreed to extend its 466,733 square foot, seven-building lease at the Santa Monica Business Park (SMBP), committing to remain in Santa Monica for the next ten years. At a time when many companies across the country are reducing their footprint in communities, Snap recognized the value their physical presence at their Santa Monica headquarters contributes toward enhancing employee engagement and satisfaction. Consequently, Snap agreed to partner with BXP and invest long-term in their headquarters, in what is one of the largest commitments to office space on the Westside of Los Angeles in recent memory.
Occupying almost 50% of SMBP, the deal will create a true campus with environmentally sensitive upgrades that improve walkability and enhance enjoyment of the many outdoor spaces throughout the campus. Providing a sustainability-forward solution for Snap was a key ingredient in completing this deal and aligns with environmental goals. Enhancements will include the removal of asphalt for the creation of safe pedestrian pathways through the campus to better connect the buildings to new landscaped outdoor spaces. Additional upgrades and amenities will also be included to improve the flow and overall on-campus experience for both Snap employees and community members who travel to and through the campus.
VITAL STATISTICS
SONY PICTURES ENTERTAINMENT’S RELOCATION
5750 Wilshire Blvd., Los Angeles
Square Footage: 225,239
Savills facilitated a 225,000+ square foot lease for Sony Pictures Enter- tainment, which was the largest office lease of 2023. Savills represented Sony Pictures Entertainment in a long-term, four-floor lease totaling 225,239 square feet at Onni Group’s 5750 Wilshire Boulevard, located in Wilshire Courtyard.
Sony sought to consolidate several divisions and relocate approximately 700 employees from separate locations throughout Los Angeles to a new headquarters space. Savills team was tapped to discover a solution for Sony, who desired a space that provided a campus feel, strong branding, high-end amenities, significant parking, maximum flexibility, proximity to Sony’s studio, a collaborative environment and improved connectivity.
VITAL STATISTICS
LIONSGATE BUILDING
2700 Colorado Ave., Santa Monica
Square Footage: 153,210
The 2700 Colorado Ave. location in Santa Monica has been the headquarters for Lionsgate Entertainment for more than 20 years. The company had decided to remain and extend the lease. Lionsgate has committed to four of the five floors with an option to also retain the fifth floor.
Keeping the headquarters for a major publicly held entertainment company in Santa Monica is a major win for the neighborhood.
