Snapchatâs renting up real estateleftandright, but one of its most interesting leases wasnât office space, it was housing. TheLos Angeles Business Journalreports the company signed a lease in May for a 25-unit apartment building.
Thewebsitefor 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 werenât disclosed.
Though Snapchat is keeping mum on its real estate deals, itâs 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 tothe intensified demandfor apartmentsand homesin 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 areaâfrom 100,000 square feet to 200,000.
Author:Marilyn Cortez 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 ...
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Always ahead of the highly competitive RGV real estate market, Marilyn Cortez is a Spanish speaking native of the Rio Grande Valley. Born and raised in Mission, Marilyn is committed to her clients, and is recognized as a Top Agent in the Greater McAllen Real Estate area, and within Keller Williams Realty. Since the start of her Real Estate career in 2007, she has sold over 40 million dollars of real estate. Known by her fellow real estate agents to be hardworking, honest, dedicated and motivated, Marilyn is knowledgeable in all areas of Real Estate and has built her business on results, with more than 70% of her clients being repeat clients.