Is Inexpensive Venice Housing So Rare That Snapchat Is Renting Some For Its Workers

Is Inexpensive Venice Housing So Rare That Snapchat Is Renting Some For Its Workers

The hip apartments are basically on the beach

BY BIANCA BARRAGANJUN 20, 2016, 11:47A

Google Maps Street View

Snapchat’s renting up real estate left and right, but one of its most interesting leases wasn’t office space, it was housing. The Los Angeles Business Journal reports the company signed a lease in May for a 25-unit apartment building.

The website for the building at 29 Navy Street, a very short walk from the beach, shows an outdoor shower for post-beach rinses, and updated apartments with subway tile and exposed brick. The financial details of the agreement weren’t disclosed.

Though Snapchat is keeping mum on its real estate deals, it’s believed the apartment building will be used as housing for employees, who would likely struggle to find housing they can afford close to work; having housing possibilities on hand will likely help the app attract talent. The success tech companies has contributed enormously to the intensified demand for apartments and homes in the area.

In the last few months, Snapchat also scored 10,525 square feet at 248 Westminster Avenue and "is poised to take the entire 33,000 square feet" at 909 Ocean Front Walk, where it already rents 5,000 square feet. There was also a lease signed last month to rent about 80,000 square feet of office buildings and hangarsat the Santa Monica airport. Recent leases inked by Snapchat have more than doubled the amount of space it has in the area—from 100,000 square feet to 200,000.


Marilyn Cortez Headshot
Author:
Phone: 956-587-1633
Dated: June 22nd 2016
Views: 511
About Marilyn: Always ahead of the highly competitive RGV real estate market, Marilyn Cortez is a Spanish speaking ...

Property Search









RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Mortgage Rates Will Rise In 2021 - Advertiser DisclosureMortgage
Your Local Mortgage Lender - From your local mortgage lender :
6 Things Every Home Buyer And Seller Need To Know About Todays Housing Market - By Clare Trapasso | 
4 Simple Ways To Invest In Real Estate - 4 Simple Ways to Invest in Real

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

CORTEZ TEAM
833 N. Ware Rd.
McAllen, TX
956-246-4218
956-928-1422