Juul bought a San Francisco office tower for $400 million. It's reportedly considering selling it just four months later.
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- Juul bought a 29-story tower in the heart of San Francisco for $400 million in June 2019 to accommodate its fast-growing workforce.
- Just months later, the company is considering selling it, as reported by the San Francisco Chronicle.
- The news follows growing scrutiny, federal investigations, and company layoffs as officials crack down on Juul for its role in the youth vaping crisis.
- Juul did not immediately respond to Business Insider's request for comment.
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Juul, the e-cigarette startup that has come under fire for its role in the youth vaping crisis, bought a 29-story tower in the heart of San Francisco for $400 million in June 2019 to house its fast-growing workforce.Now, just months later, it's looking to sell it, according to a San Francisco Chronicle report.
The news comes after a doozy of a summer for the company. Federal investigations and widespread criticism have forced the company to cut expansion and $1 billion in costs, as well as lay off 650 employees, 245 of which are in the Bay Area.Before the company began to buckle under the scrutiny, it was hiring an average of 300 employees a month, as Business Insider's Tanya Dua reported.
The company's San Francisco headquarters in the city's Dogpatch neighborhood houses a large portion of its employees. And the tower at 123 Mission St. near San Francisco's Financial District is five times larger than the Dogpatch office. It was meant to accommodate the ballooning workforce.If the company is indeed looking to sell the tower, it likely won't have trouble, as the Chronicle points out. The tower is in the same neighborhood as other tech giants, like Salesforce, Facebook, and Google, making it a coveted location.
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