When I visited Zillow at its new office space at in the Russell Investments Center in downtown Seattle back in December, the online real estate company had nearly outgrown the space. I surmised that it wouldn’t be too long before the company had to go back on the prowl.
Good thing Zillow knows something about real estate.
Today, the company announced that it has secured an additional 22,000 square-feet of office space in the building, providing room for as many as 90 more employees if calculated at 250 square feet per person. That follows an expansion by the company in Orange County where Zillow recently announced plans for an office with room for 100 staffers, adding to the work force it picked up when it acquired Diverse Solutions last fall.
Zillow right now has about 66,000 square feet of space in the Russell Investments Center, and the new space, on floor 32, is currently occupied by Dendreon. It will have 88,000 square feet in the 42-story building after the expansion is completed, expected to be completed during the fourth quarter.
Zillow, which went public last summer and now boasts a market value of more than $1 billion, employs about 450 people. It moved into the building last August after securing the lease in March, and is now paying $36 per square foot, or $64,725 per month, for the space.
Here was the tour I got back in December from Zillow’s Amy Bohutinsky who said the space retains the company’s startup DNA.