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As it gears up for an initial public offering, social-media giant Twitter Inc. is looking to expand.
Eyeing a major growth of its office space, Twitter is in discussions with real-estate developer Shorenstein Properties to lease more than 300,000 square feet in a building that neighbors its art-deco headquarters in San Francisco’s Mid-Market neighborhood near City Hall, according to multiple people briefed on the talks.
No lease has been signed, and the landlord continues to talk to other potential tenants for the space in the 10-story building known as 1Tenth, the people said.
A Twitter spokesman declined to comment.
The discussions suggest an aggressive growth plan: The space would nearly double Twitter’s existing footprint and could accommodate more than 2,000 additional employees—roughly the size of its existing global workforce.
The company first leased about 215,000 square feet at 1355 Market Street—a former furniture mart built in the 1930s—from Shorenstein in 2011. At the time, Twitter’s lease was considered a path-breaking move for the gritty Mid-Market neighborhood.
It subsequently moved into another 85,000 square feet in the building, and it has exercised options for additional space that would bring its total to about 400,000 square feet.
Read entire Wall St Journal article here.