Beacon Capital acquires San Francisco Zynga HQ for $600m
Online game developer Zynga has agreed to sell its San Francisco headquarters building to Beacon Capital Partners in a $600 million sale-leaseback transaction.
The 670,000-square-foot building is located at 650 Townsend St. Zynga will lease 185,000 square feet for about $10 million a year, according to Securities and Exchange Commission filings.
The closing of the sale of the building is expected to take place before the end of July 2019.
The purchase follows Beacon Capital’s recent acquisition of a class A, 263,000-square-foot office property in San Francisco’s financial district for approximately $191.5 million.