Yelp is vacating about 450K SF of office space it currently occupies in NYC, Chicago and DC after the results of a company-wide survey found that 86% of employees preferred to work remotely.
In a blog post last week entitled The Future of Work is Remote, Yelp CEO Jeremy Stoppelman announced that Yelp would vacate its leased offices in the three cities on July 29. Stoppelman did not specify what would be done with the leases.
In NYC, Yelp has a lease on 70K SF lease of office space in a Fifth Ave. building owned by Clarion Partners and a lease on 200K SF in a Madison Ave. building owned by SL Green and PGIM. In Chicago, Yelp has a lease for 132K SF of office space at the Mart, owned by Vornado Realty Trust.
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