Another mega-offering is hitting the market in the San Francisco as the 670,000 square foot Zynga headquarters at 650 Townsend St. comes to market, with Michel Seifer, Paul Lee, and Rob Hielscher of Jones Lang LaSalle handling the transaction. According to the San Francisco Business Journal, the property is expected to bring in between $350 a square foot and $400 a square foot, or $234 million to $268 million, for the sellers, TMG Partners and Farallon Capital Management. The partnership originally purchased the property in 2007 for $116.9 million ($174 per square foot) and since invested another $85 million in the property for upgrades and improvements.
The property sits at the edge of both Mission Bay and Portrero Hill and was half vacant when the partnership first acquired the building. Computerworld published an online slideshow featuring the property after Zynga, best known for its online game Farmville, recently moved into the space. The 5 story building, previously used as the old Sega headquarters, features a 60-foot atrium, private theater, and fitness center and houses more than Zynga 1,700 employees.
For more news and information visit Blumberg Capital Partners.
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