Report: Twitter Abandons Planned Market Street Expansion
The company was close to finalizing a deal with landlord Hudson Pacific Properties for about 100k SF. Sources indicate the company has seen a major hiring slowdown and the exit of several managers and engineers. Twitter has taken a hit on Wall Street this year, with shares declining 27% on the year as user growth has stalled.
Twitter’s current HQ is less than a block away at 1355 Market, where it has been located since 2012. Hudson Pacific now finds itself with 100k SF open in 1455 Market, which could be an attractive spot for growth-stage tech companies. [SFBT]