Roots:
Zynga Plans to Buy San Francisco Headquarters Building for $228 Million
By Douglas MacMillan
Bloomberg
Mar 5, 2012 5:35 PM CT
Zynga Inc. (ZNGA), the online-game company that held an initial public offering in December, plans to buy the San Francisco building where its headquarters are located for $228 million.
The building has about 670,000 square feet (62,000 square meters) of space, Zynga said in a regulatory filing. The company has deposited $25 million in escrow for the transaction, which is expected to close by the end of the second quarter.
Zynga moved into its new home base in the city’s South of Market district last year, seeking to house a workforce that now tops 2,800 (ZNGA). The building features a large central atrium, and its lobby is decorated with a 1970s Winnebago motor home and a tunnel lit with color-pulsing LED tubes.
The company now leases about 65 percent of the building’s space, with the rest vacant or occupied by other tenants, according to the filing.
To contact the reporters on this story: Douglas Macmillan in San Francisco at dmacmillan3@bloomberg.net;
To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net
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