Seattle-based online real estate market Zillow expanded this week to its first Southern California office in Irvine to take advantage of the city’s condense real estate market and eager job hunters.
Zillow serves as an online database and marketplace for more than 100 million homes for sale or rent in the U.S. The company has been planning to move since last year after the success of its $7.8 million acquisition of Irvine-based real estate technology firm Diverse Solutions.
The 20,000-square-foot office located near John Wayne airport features open workspaces, training rooms, an office kitchen and a lounge space, and currently houses 60 employees with plans to expand to 100 by the end of the year. CEO Spencer Rascoff said physical expansion isn’t out of the question either.
“This really is the center of the U.S. real estate market,” Rascoff said. “We looked across the country and thought we could attract some extraordinary [employees].”
City officials and business owners are happy to see the addition to the city. Irvine Mayor Sukhee Kang said he hopes the addition, one of about 200 businesses opened in the last four years, will help solidify the city as an international trading ground.
Chair of the Irvine Chamber of Commerce Board of Directors Sam Murray said the expansion gives her hope for the city’s economy in the coming years.
“Just the presence of Zillow alone sends the message that real estate is reviving,” Murray said.
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