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Zillow Subleases Several Floors at Russell Investments Center
In an effort to downsize its large Puget Sound footprint, Seattle-based real estate tech company Zillow is subleasing seven of its 12 floors at the Russell Investments Center downtown tower. The Puget Sound Business Journal reports the company is looking to sublease 111,000 square feet at the building, but still occupies 100,000 square feet.
Zillow told the Business Journal that the company has begun to redesign existing floors and sublease select floors at some of their locations, adding that the firm is investing in new space designed for collaboration and social gatherings.
In the last year, Zillow has reduced their workforce from 8,000 at the end of 2021 to just over 5,800 at the end of September 2022. The company has also closed its home flipping business, laid off 300 more workers in October and allows employees to work remotely, so the reduction in needed office space is certainly no surprise.
- ◦Lease
- ◦Economy
