Online medical apparel startup FIGS inked a lease for 26,118 square feet of Los Angeles office space at Santa Monica Gateway, according to CBRE. The location will serve as the company’s new headquarters.
Dubbed Santa Monica Gateway, the property at 2834 Colorado Avenue is a newly developed, 200,000-square-foot office complex consisting of two four-story buildings. FIGS signed a 10-year deal for almost the entire first floor in one of the buildings. The company will be relocating its headquarters from 11390 West Olympic Boulevard here. The move is expected to happen in the third quarter of 2019, after FIGS redesigns the space to fit its needs.
CBRE’s Jacob Bobek, Scott Steuber and Jeff Vertun acted on behalf of the tenant in the transaction. The landlord, Colorado Creative Studios, was represented by Kent Handleman of Lincoln Property Company.
“In a tight Santa Monica market, we were pleased to be able to help FIGS find a fantastic space at a creative building in their target market,” said Bobek. “This is a space that will also provide them with the freedom to create their own style and represent their brand and culture to serve as a vehicle for further growth.”
“Santa Monica is home to some of LA’s top creative companies, has excellent walkable amenities, easy Expo Line access, is safe for employees, and is a generally pleasant place to live, work and play in. For those reasons, it was the target market all along and will aid FIGS in attracting and retaining top talent in an increasingly competitive labor market,” added Vertun.
Other tenants in the complex include Lionsgate Entertainment, Starz and Goop, Gwyneth Paltrow’s lifestyle company, which signed a 10-year lease for a 57,000-square-foot space there last August, The Real Deal reported.