Zynga Inc (ZNGA)

[Trevor11]

ZNGA: $15,000,000.00 ADDITIONAL INCOME







ZNGA: $15,000,000.00 ADDITIONAL INCOME, TO BE PAID BY AIRBNB FOR OFFICE SPACE LEASE




REPORT: AIRBNB TO LEASE HUGE SPACE FROM ZYNGA HQ
MAY 8, 2017 2:39 PM ET|
BY: JASON AYCOCK, SA NEWS EDITOR



ZYNGA (ZNGA +2.5%) IS SET TO LEASE ABOUT 250,000 SQUARE FEET OF ITS HQ TO AIRBNB (PRIVATE:AIRB) IN WHAT WOULD BE SAN FRANCISCO'S BIGGEST OFFICE LEASE THIS YEAR, The Information reports.

That's about 37% of the space. Terms aren't clear, the report says, but THE LEASE COULD COST AIRBNB ABOUT $15M/YEAR BASED ON NEIGHBORHOOD RENTS.

AIRBNB WOULD GET SOLID ROOM TO GROW AHEAD OF A POSSIBLE PUBLIC FLOAT NEXT YEAR.
ZYNGA BOUGHT THE ELABORATE HEADQUARTERS IN 2012 FOR $228M, and began looking at a sale earlier this year.


Source:

https://seekingalpha.com/news/3264656-report-airbnb-lease-huge-space-zynga-hq