July 26, 2022 3:02 PM
Venture capital firm Andreessen Horowitz (a16z) will open a new office in the 100-year-old designated landmark building located at 1305 2nd Street in Downtown Santa Monica. The City of Santa Monica worked in partnership with the Landlord team of King’s Arch and Wilshire Skyline along with brokers from Madison Partners, Ground Source, and Douglas Elliman Commercial to occupy this nearly 30,000 square foot building with an office use for the first time in its 100+ year history.
Founded in Silicon Valley in 2009 by Marc Andreessen and Ben Horowitz, a16z backs bold entrepreneurs building the future through technology. The firm invests in seed to venture to late-stage companies across bio +healthcare, consumer, crypto, enterprise, fintech, games, and companies building toward American dynamism. As part of the firm’s new operating model, a16z will work primarily virtually and open new offices in Santa Monica, Miami Beach, and New York (in addition to the existing Menlo Park and San Francisco locations) for an expanded physical presence to develop culture, help entrepreneurs, and build relationships globally.
“Santa Monica has long been a flourishing hub for innovative companies to put down roots and the added presence of a16z is yet another example of the City’s thriving technology and innovation sector,” said Santa Monica’s Economic Development Manager Jennifer Taylor. “We’re thrilled to welcome one of Silicon Valley’s most established venture capital firms whose use of a renovated historical building is also an added sign of the revitalization happening in our downtown district and is a very exciting addition to the City’s diversifying local economy.”
Located in the heart of Downtown Santa Monica just steps from the Third Street Promenade, the ocean, and four blocks from the Expo Line, 1305 2nd Street is a one-of-a-kind, award-winning architectural masterpiece and designated historical landmark owned by King’s Arch. Built in 1914 as The Hotel Hart and Apartments, the building was re-imagined and meticulously restored by KFA Architects in 2021. All building systems have been modernized with operable windows throughout, outdoor space with ocean views on every floor, exposed ceilings, a private roof deck and parking area.
Often referred to as “Silicon Beach,” Santa Monica has been a center for innovation in Southern California for more than 30 years with a high concentration of technology start-ups and ground-breaking companies already established plus a growing number of new businesses choosing to come to the City. Technology and creative industries remain one of Santa Monica’s leading economic sectors, currently comprising 37% of the City’s total employment with over 29,000 people and an average quarterly payroll of $1.95 billion. The City is already a hub for notable companies such as Hulu, Cornerstone on Demand, Lionsgate Entertainment, Oracle, Snap Inc., and Universal Music Group among others.
For a complete roundup of the businesses opening throughout Santa Monica, click here. For resources for potential and current businesses, visit santamonica.gov/topic-explainers/business-resources.
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