TMG Partners has won awards for many projects
including honors for “Best Mixed Use,”
“Best Office,” and “Best Historic Rehabilitation”.
Social-game maker Zynga Inc. said it will pay $228 million to purchase its 670,000-square-foot San Francisco headquarters, according to a regulatory filing Monday.
Zynga, the maker of popular Facebook games like FarmVille and Mafia Wars, has approximately 1,700 employees in the city. It has ample cash from its initial public offering in December, which raised $1 billion.
Zynga began leasing its headquarters in September 2010 from the San Francisco real-estate firm TMG Partners. It renovated the offices and moved in employees in phases starting last summer.
The offices, in a trendy San Francisco neighborhood, have their own coffee shop—under a gourmet brand called Blue Bottle—that serves free freshly brewed coffee to employees all day.
Zynga's concrete 6-floor structure has a concourse and roof parking. It houses a large Winnebago in the lobby, a basketball game machine and a candy room with buckets full of snacks for employees with a sweet tooth.
The company plans to build a collaborative community space in a second, currently unused lobby that is twice the size of the current lobby, said a person familiar with the matter.
Zynga plans to close the deal in the second quarter of 2012, according to the filing. The company leases about 65% of the space right now, with the rest rented out to third parties, according to the filing. It has already deposited $25 million into an escrow account.
Zynga said it expects to incur costs related to taxes and brokerage fees that will take the total price of the deal above the $228 million.