Zynga Looking to Sell Massive HQ, Could Fetch $800 Per Square Foot - Report

Social and mobile gaming company Zynga is putting its San Francisco headquarters on the market, according to a report today from real estate blog The Registry, which cited sources with the information.

Zynga bought the 670,000 square foot building (once occupied by Sega) in 2012, paying $228 million, or $340 per square foot. The Registry explains that the company could see a nice return, as office buildings in San Francisco today are going for $800 per square foot or more. Additionally, Curbed SF reports that the land alone that the building sits on is worth at least $133 million.

That Zynga would look to sell its headquarters is not much of a surprise. Just two weeks ago, as part of the company's latest earnings report, Zynga said [PDF] it was planning to "explore opportunities to monetize our San Francisco building through a sale and long term leaseback transaction."

Zynga has seen better days. The company laid off 300-plus staffers in 2015 and continues to lose money. For the latest quarter ended December 31, the company lost $46.9 million, with player numbers dropping "due to the lack of significant new releases." The company expects to launch ten new games this year.

GameSpot has contacted Zynga in an attempt to get more details on the rumored building sale and where the team would move to. We will update this post with anything we hear back.