Zillow today announced that it has already outgrown the offices at Russell Investments Center that it moved in to last summer.
The online real estate company is expanding the space by a third, adding 22,000 square feet to the 66,000 feet it already leases in the tower.
It’s been leasing floors 29, 30 and 31 in the tower. It’s now taking the 32nd floor, which has been leased by Dendreon.
For floor 32, Zillow is paying $36 per foot plus a $1 per foot annual increase and minus $800,000 for tenant improvements. It works out to an annual base rent of $776,700 the first year, rising to $992,450 in 2022.
Zillow now employs 450 people and has 30 openings. The new floor comes with 54 parking spaces so perhaps the space – which it’s moving into in the fourth quarter – will enable the company to cross the 500 mark.
Zillow reported its sixth consecutive quarter of 100 percent year-over-year growth in the first quarter and traffic to its sites and mobile apps was up 53 percent last month, to 33.7 million unique visitors, spokeswoman Jill Simmons noted.