Science Inc., a technology incubator and investor, has signed a lease for 45 months for a 16,220-square-foot space in the heart of Downtown Santa Monica, according to commercial real estate firm Avison Young, which brokered the deal.
Built in 2000, the four-story property totals 24,578 square feet and offers exposed ceilings, polished concrete floors, private balconies and ocean views. With the Science, Inc. lease, the property is now fully occupied. The space was previously occupied by Hydraulx, according to a news release. Hydraulx has since moved to Playa Vista.
Avison Young did not disclose how much Science will pay in rent.
Science, Inc. is relocating and expanding from its 10,000-square-foot office space just steps away at 1410 Second St.
Santa Monica is home to many young tech companies, but has lost some to adjacent areas after they expand and need to find more office space to accommodate their growth. Google left for Venice and recently video game developer Riot Games announced it was moving just outside Santa Monica.
City officials are working with Sony and Red Bull to help them find more office space.
Here’s a case of one such company remaining in the city by the sea.
“Science, Inc. wanted to stay in Downtown Santa Monica because it is where the company’s talent wants to work,” said Avison Young Principal Randy Starr. “We were able to successfully negotiate a below-market rental rate in a highly competitive market.”
Since its formation, Science, Inc. has amassed various startups that include Let’s Date, a mobile dating app, and Fresh Dish, an in-house company that’s an on-demand personal chef service, providing restaurant quality meals directly to homes.