Pinterest is now a mega-company no one saw coming. With the expansion of the already billion-dollar company growing, they need a new office space to house it. So, now the San Francisco based start-up is planning a relocation — to an already rented building.
The online scrap-booking site has signed a lease for a 311,00 square-foot building in the Showplace Square District in San Francisco, forcing dozens of design and production businesses out. The space currently has a 90 percent occupancy rate, yet City Supervisor Malia Cohen tells the San Francisco Chronicle that the landlords are letting dollar signs influence them.
While some people feel the move could be good for surrounding businesses, the debate over the move is still heavy. A current tenant tells the San Francisco Chronicle that the pending move would result in the loss of her top clients. The property owner of the location is offering its current long-term tenants a space in the Galleria Building across the street. However, with an 80 percent occupancy rate there, it may be hard to accommodate new tenants.
The area Pinterest is moving to is generally zoned for production, distribution, and repair. However, the move for the tech giant still remains entirely legal. While tech companies are becoming more and more prominent, anti-tech rallies have come along with them. This move will certainly gather that attention.