Correction: This post originally stated that the portion of Twitter offices for sublease represented a quarter of the company's space in San Francisco overall. In fact, the figure is greater than that, though less than one-third.
Twitter, San Francisco's second largest tech employer, has plans to sublease part of its mid-Market roost. The brokerage Cresa is live with a website for the "Plug 'n Play" rental opportunity of up to 184,000 square feet. That's available across the two buildings Twitter rents in, 355 Market Street and neighboring One Tenth Street. Combined, the company occupies
750,000-square-feet over 600,000, and the 184,000 or portions thereof are available immediately, rent negotiable.
"We’re always looking at ways to use our office spaces more efficiently and effectively. We remain committed to our home in San Francisco’s Mid-Market area," Twitter said in a statement issued to the Business Times, who broke the story. The office landlord business, the publication points out, isn't a bad one, particularly in San Francisco where office rents are among the highest in the country.
Twitter abandoned a Market Street expansion last fall, later making layoffs of about 8 percent to its global workforce, cutting 240 San Francisco employees, amid slowed user growth. Twitter is still trying to reintroduce itself to potential users, as with a recent ad campaign, while, anecdotally, the platform feels more vital as election season continues, activists movements like Black Lives Matter maintain vigor, and world events like the Olympics kick off.
Meanwhile, within the Twitter building, a big restaurant space has been struggling as well. The ambitious, multi-purpose and all-day restaurant Bon Marché is now on the market, as we learned late last month, with the possibility of a partnership for its current owners and a new buyer. The business has operated for just a year, and other restaurants in the area, particularly those that, like Bon Marché, were large in scale — Cadence and Oro — have been quickly shuttered.