clock menu more-arrow no yes

Filed under:

Zynga reportedly selling off its San Francisco headquarters

New, 5 comments

Farmville and Words with Friends maker Zynga is putting its San Francisco headquarters on the market, according to a report from Bay Area real estate blog The Registry.

Zynga purchased the 670,000 square foot building in 2012 for $228 million. The mobile and social game company announced its intentions to sell the building in its most recent quarterly earnings report (PDF), saying it planned to "explore opportunities to monetize our San Francisco building through a sale and long term leaseback transaction."

The Zynga building was once home to another video game company, Sega.

Last quarter, Zynga posted a $46.8 million loss on $185 million in earnings. The company said its mobile audience was down 1 percent in 2015, citing a lack of new releases during the fourth quarter. Zynga plans to release 10 new titles this year.

According to Curbed, Zynga's real estate deal could be a "potential coup" for the company, as the mobile game maker purchased the property before prices in San Francisco skyrocketed. "The land alone is valued at over $133 million," Curbed reports.