Tech start-ups continue to establish their presence in southern California’s Silicon Coast with Snapchat’s newest acquisition of office property at the Santa Monica Airport. What’s notable is that, unlike other tech firms (Facebook, Google and Yahoo in Los Angeles), instead of building a large single campus, Snapchat has opted for multiple non-centralized locations scattered amid the Venice and Santa Monica communities.
The Santa Monica Airport has a long history of innovation, being one home of Douglas Aircraft from its infancy in the 1920s to after the Second World War. Snapchat’s Evan Spiegel seems to be taking a cue from the aerospace industry, which traditionally utilizes multiple decentralized locations for everything from design to manufacturing. (Look out, Elon Musk, is a Snapchat electric car or rocket facility in the future?)
With Snapchat’s new footprint in Los Angeles, the already high rental and sales prices are projected to climb a bit more as firms continue to jockey for the ever-shrinking inventory of trendy and prestigious commercial real estate.