It's possible that the company has decided not to use its option to renew, but the future is uncertain.Īs the Business Times notes, Yelp has been signaling its frustration with the Bay Area, and it could be another example in a string of tech company departures and half-departures in the last couple of years.
Separately it has a lease for the 14th floor that doesn't expire until next year. The company's lease for floors 2 through 13, signed in 2013, expires in October.
It is also possible that Yelp intends to keep one or more floors of offices at 140 New Montgomery and is in negotiations to do so - the company did not confirm that, and this was based on some conjecture by a real estate agent. A Yelp representative tells the paper that the company intends to maintain a headquarters in San Francisco, but obviously a smaller one now that most employees are working remotely, and it's not clear where. The San Francisco Business Times reported Wednesday that Yelp is abandoning almost 200,000 square feet of office space that it's held at 140 New Montgomery for most of the last decade, as the company is apparently downsizing its footprint in the city. Building at 140 New Montgomery have been made available for lease this year, in another of a cascade of moves that have shaken up the once hot SF office market. All 14 floors that Yelp occupies at the historic Pacific Telephone & Telegraph Co.
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