Zynga to sell San Francisco HQ

Mobile studio acquired location in 2012 for $228 million, which could now be worth more than half a billion dollars
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Zynga is planning to offload its main US office in San Francisco.

That’s according to local sources speaking to Bay Area real estate publication The Registry, which revealed that the mobile games-maker is looking to sell the 670,000 square feet of space it owns across joint addresses of 650 Townsend and 699 8th Street.

The company purchased its HQ back in 2012, paying around $340 per square foot to a total of $228 million.

That price is expected to have now risen to $800 per square foot, resulting in a potential sale for $536.5 million.

The news follows Zynga’s latest financials, which showed that the firm’s losses had almost halved over the last year.

However, losses still totalled $117 million for 2015.

During its financials, Zynga suggested that it would look at monetising the San Francisco building through a sale or leaseback deal.

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