Colliers Represents Zynga in Major S.F. Office Lease
Zynga represented by Colliers International recently finalized the biggest new office lease in San Francisco in nearly five years. Zynga the creator of several popular online games of facebook users such as FarmVille and Mafia Wars secured a lease for approximately 270,000 square feet at the Townsend Center located at Townsend and Eighth streets in San Francisco.
Excluding lease renewals, Zynga’s deal is the biggest in San Francisco since Barclays Global Investors signed a lease at 400 Howard St. for more than 321,000 square feet in late 2005, according to a report in the San Francisco Chronicle.
The 20-year-old building designed as a fashion mart for apparel wholesalers failed in that niche, and became popular with technology companies during the dot-com boom. One of the biggest commercial buildings South of Market, the 670,000 square-foot complex received a $15 million makeover from owners TMG Partners, who bought the building for $131 million in 2006 and transformed the building into commercial office space.
Zynga was founded in July 2007 by Mark Pincus, Michael Luxton, Eric Schiermeyer, Justin Waldron, Andrew Trader, and Steve Schoettler. Zynga boasts 226.4 million active players per month, and could reach $500 million in revenue this year, according to estimates by Palo Alto market research firm Inside Network. The rapidly expanding company has about 1200 employees.