Zynga shrinking space in Mountain View
- Nathan Donato-Weinstein
- Real Estate Reporter- Silicon Valley Business Journal
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Real estate insiders say Zynga is looking to sublease the entire roughly 60,000-square-foot building it leased back in October 2011 at 675 E. Middlefield Road.
I'm told Zynga is looking to lease out half of its ground-floor space right away, with the rest of the first floor, as well as the second story, coming available in March of next year. Zynga's lease was scheduled to last until late 2017.
Zynga already subleases the second story of the Mountain View building to Audience Inc., the audio-processing chipmaker, according to this securities filing. Audience, which did a two-year deal with Zynga back in March 2012, pays about $85,700 a month for the 28,561-square-foot space that it rents, or about $3 a foot.
Kilroy Realty is currently building Audience its own 88,000-square-foot building at 331 Fairchild Drive, so it's unclear if Audience would want to take over the whole thing.
Jeffrey Rogers and Luke Wilson of Colliers International, who are marketing the property, would not talk about the offering. And Zynga similarly declined to speak about its South Bay presence, so it's unclear how many workers it had there or where they are going.
Zynga used to have offices in Los Gatos and Sunnyvale, but I hear it's already left those spaces.
Once-high-flying Zynga in early June confirmed it was laying off 18 percent of its workforce, or 520 workers, as it tried to boost revenue and develop more popular games. Zynga went public amid spectacular hype in December 2011, but it quickly saw users turn to mobile games, where it has been playing catch-up.
Nathan Donato-Weinstein covers commercial real estate and transportation for the Silicon Valley Business Journal.
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