WeWork Places 440,000 SQFT Mountain View Building Back on Leasing Market

WeWork, Meta, The Village at San Antonio Center, Colliers, Airbnb, Netflix, Twitter

By Kate Snyder

Following a trend of companies putting office space back onto the market, WeWork is offering up its 440,000 square foot building in The Village at San Antonio Center in Mountain View, according to a recent third quarter Silicon Valley market report byColliers.

WeWork subleased the building in 2017 from LinkedIn, according to The Registry’s previous reporting. The Village at San Antonio Station is a mixed-use development in Mountain View that sits on the southeast side of San Antonio Road just north of El Camino Real.

According to the Colliers report, WeWork putting its building back onto the market for sublease was the single largest vacancy to hit the market year-to-date. Meta was originally slated to occupy the space from WeWork but opted out, according to industry reports.

“With many companies opting for hybrid or fully remote models, office demand slowed in the third quarter compared to the 707,000 square feet of expansion seen in the previous quarter,” the report states.

In the Bay Area, a number of major companies have been looking to offload office space in a reversal of the commercial and technology expansions that marked the pre-pandemic world.

In September, San Francisco-based Airbnb placed the entire 150,000 square foot property located at 999 Brannan Street on the sublease market, according to The Registry’s previous reporting. At the same time, the digital vacation rental company is also looking to place back on the market roughly 300,000 square feet of space in Santa Clara’s Great American Corporate Center located at 4301-4401 Great America Pkwy, which Airbnb acquired in a lease agreement announced in January 2020.

But Airbnb’s not the only major company that has put space back onto the market for sublease.

Earlier this year, the media streaming giant Netflix put part of its Los Gatos corporate headquarters campus onto the sublease market, according to previous reporting from The Registry. In all, Netflix is offering for sublease 164,067 square feet across two buildings located at 100 and 150 Winchester Circle.

Netflix has called Los Gatos home since its founding, and the Sobrato Organization just renewed the leases in both buildings a couple of years ago. The sublease in the property is available until November 30, 2027, according to JLL, which is marketing the two Sobrato Organization properties.

Tech giant Twitter also indicated earlier this year that it will not occupy the 66,000 square foot lease in Oakland it signed with TMG Partners and KKR at 1330 Broadway while at the same time planning to trim its offices in San Francisco as well as around the globe in Europe and Asia, according to previous reporting from The Registry. Industry reports showed that Twitter also planned to vacate a property on Tenth Street next to its Mid-Market headquarters where it occupies several floors. In addition, the company will also downsize its lease in New York.

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