Snap Inc., the owner of multimedia messaging app Snapchat, is slated to fully occupy a 156,000-square-foot office building at 223 Mathilda Ave. in Sunnyvale that previously housed biotechnology company 23andMe, reported the Silicon Valley Business Journal. The lease agreement with landlord Spear Street Capital will take effect later this year, the Business Journal reported, citing CoStar News.
Last month, Spear Street repurchased the property from San Francisco-based Stockbridge Capital Group for $87.75 million, paying nearly $100 million less than it sold the property for in 2019, the Business Journal reported.
23andMe leased the building in 2019, but got little use out of it after the COVID-19 pandemic left conventional work life in disarray, largely putting 223 Mathilda Ave. in a state of limbo. The personal genomics company subleased 17,000 square feet to cloud-computing startup CoreWeave in 2024, just six months before filing for Chapter 11 bankruptcy,
Photo courtesy of The Smith Group.
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