Reddit’s headquarters is being relocated from its current 78,000-square-foot office at 1455 Market Street at San Francisco’s Mid-Market to 303 Second St. in SoMa, a 47,000-square-foot space.
Reddit, which was subleasing the Market Street space from Block, formerly known as Square, said that it Block not renew the lease when it expires in September in order to save money on redundant real estate and focus on two smaller San Francisco offices at 760 Market St. in SoMa and 2101 Mission St. in the Mission.
Aside from not renewing its lease, Block, the financial tech company led by Twitter co-founder Jack Dorsey, no longer has a designated headquarters. As a result of the departures of Reddit, Block, Uber, and WeWork, the majority of the 1 million-square-foot 1455 Market St. will soon be vacant. Following the lockdown, the neighbourhood began to struggle with the absence of thousands of workers due to remote work.
Reddit followed suit when it announced its plans for a hybrid work model more than two years ago, stating that it was “reimagining the future of our office space” and would allow employees to work in the office, from home, or both.
Reddit, which employs over 1,800 people worldwide, had about 450 in the Bay Area, where its headquarters is being relocated.
The sources for this piece include an article in Sfgate.