'The West Coast is lagging from a return to office perspective.'
The subsidiary of Zillow previously occupied nearly one-third of the space at 535 Mission St., a 27-story high-rise that wasin 2014 and leased by Boston Properties. Now, Trulia has reduced its footprint, preserving just two of the six floors it operated out of following the expiration of its lease last year. Boston Properties President Douglas Linde confirmed the company was trimming its space during a fourth-quarter earnings call with investors on Wednesday, per the Business Times.
SFGATE reached out to a Trulia spokesperson for more information but did not hear back by time of publication. During the call, Boston Properties CEO Owen Thomas seemed to suggest a major shift to remote work had impacted the decision. “The West Coast is lagging from a return to office perspective and also from a leasing perspective, which is driven by the fact that there’s a much higher percentage of technology users in those markets and those users are not using their office to the same extent that other industries are,” Thomas said. “And so far, they’ve led other industries in terms of layoffs, which impacts space use.”
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