Within hours of billionaire Elon Musk finalizing his $44 billion purchase of Twitter, media reports swirled about him firing three of the social media platform's top executives as he began to assert control and reduce costs. The question now is what may be in store for Twitter's vast office portfolio, which includes more than 15 workspaces across the country.
As one of the earliest adopters of remote work, San Francisco-based Twitter was already trying to sublease expensive office space in its home city and elsewhere as it adapted to an employee base that rarely ventured into the office.
It has spent the past year trying to offload a lease it signed in September 2021 for its first office in Oakland, California, and one of its locations in Boulder, Colorado, hit the sublease market in May as Twitter became more aggressive in its efforts to adapt to the uncertain economy and curb expenses. And the company could look to Austin, Texas, where Musk has facilities for some of his other businesses.
Here are some of Twitter's largest offices that could figure in his next moves, based on CoStar data. A company spokesperson declined to comment on any impending real estate moves.
San Francisco Headquarters
1301 Market St.
Size: More than 457,700 square feet
Lease Signed: Twitter signed its original 214,950-square-foot lease in April 2011.
Submarket Vacancy: Roughly 13%
New York City
245 West 17th St.
Size: Roughly 147,880 square feet
Lease Signed: The company signed its first lease in the Manhattan office building in June 2014.
Submarket Vacancy: About 13.5%
Oakland, California
1330 Broadway
Size: 66,000 square feet
Lease Signed: September 2021
Submarket Vacancy: About 18.7%
Boulder, Colorado
3390 Valmont Road
Size: 64,000 square feet
Lease Signed: March 2020
Submarket Vacancy: About 13.1%
Seattle
1501 Fourth Ave.
Size: More than 42,000 square feet
Lease Signed: Twitter signed its original 15,154-square-foot lease in November 2013
Submarket Vacancy: About 19.6%