February 24, 2016
The headquarters for San Francisco-based Zynga is reportedly being offered as a sale-leaseback opportunity. The online gaming company’s 650 Townsend and 699 8th St. total 670,000 square feet of space.
The company confirmed 4Q 2015 earnings reports that hinted at a possible sale, though it didn’t identify a price or who may be kicking the tires at the property. Zynga is shrinking from 3,500 employees to about 2,300.
The company bought the property for $228-million in 2012 from San Francisco-based TMG Partners. Comparable per square foot prices have increased from $340 psf to the $800 psf range.