Boston Properties Secures a 140,000 Square Foot Lease at Santa Monica Business Park in Santa Monica, CA

Rhea-AI Summary

Boston Properties (NYSE: BXP) has signed a 140,000 square-foot expansion lease with a technology company at 3100 Ocean Park Blvd., within its Santa Monica Business Park. This creative campus spans 1.2 million square feet and is notable for attracting high-profile tech and entertainment firms, establishing itself as a leading workplace in West Los Angeles. The lease highlights the allure of the West Los Angeles submarket for creative talent, enhancing Boston Properties' portfolio of 51.6 million square feet across major U.S. markets.

Positive

• Signed a 140,000 square-foot expansion lease, indicating strong demand for office space.
• Expansion reinforces the attractiveness of Santa Monica Business Park for tech companies.

Negative

• None.

Boston Properties, Inc. (NYSE: BXP), the largest publicly traded developer, owner, and manager of Class A office properties in the United States, announced it has signed a 140,000 square-foot expansion lease with a technology company at 3100 Ocean Park Blvd. at Santa Monica Business Park, the Company’s 1.2 million square-foot creative campus in Santa Monica, California.

“We are excited to continue to provide great space and place for this high growth company,” said Jonathan Lange, SVP, Los Angeles Region, Boston Properties. “This lease underscores the attractiveness of the West Los Angeles submarket and Santa Monica Business Park, in particular, for attracting and retaining today’s creative talent.”

Santa Monica Business Park is a creative office campus in the heart of the Sunset and Ocean Park neighborhoods in Santa Monica, CA. With high-profile technology and entertainment companies, and an outdoor environment that extends creativity beyond the office walls, Santa Monica Business Park is one of the most sought-after workplaces in West Los Angeles.

About Boston Properties

Boston Properties (NYSE: BXP) is the largest publicly traded developer, owner, and manager of Class A office properties in the United States, concentrated in five markets – Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires, and owns a diverse portfolio of primarily Class A office space. The Company’s portfolio totals 51.6 million square feet and 196 properties, including nine properties under construction/redevelopment. For more information about BXP, please visit our website at www.bxp.com or follow us on LinkedIn or Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210603005859/en/

FAQ

What recent lease agreement did Boston Properties (BXP) announce?

Boston Properties announced a 140,000 square-foot expansion lease with a technology company at Santa Monica Business Park.

How does the new lease impact Boston Properties' portfolio?

The lease adds significant space to Boston Properties' portfolio, which totals 51.6 million square feet across the U.S.

Where is the Santa Monica Business Park located?

The Santa Monica Business Park is located at 3100 Ocean Park Blvd. in Santa Monica, California.

Why is the Santa Monica Business Park attractive to companies?

The park is appealing due to its creative environment and proximity to high-profile technology and entertainment firms.