Granit Gjonbalaj, chief real estate development officer at WeWork
NEW YORK CITY—WeWork announced securing an additional 190,000 square feet across seven locations in New York and San Francisco.
Since the launch of HQ by WeWork, the program focused on mid-sized offices, each of the company's existing locations has opened at full occupancy, according to the company's chief real estate development officer Granit Gjonbalaj. He says this reflects an “incredible demand.”
“These seven leases, encompassing approximately 190,000 square feet, will allow us to better meet this demand and we intend to continue building our footprint further, in our existing markets as well as other key cities around the world,” states Gjonbalaj.
Arash Gohari, EVP of real estate, is in charge of leading this effort. The companies most recent activities include the following leases on the East and West coasts.
In New York, WeWork signed a lease with landlord CIM for 51,050 square feet, spanning 11 floors at 67 Irving Place, in Gramercy Park. The co-working and flexible office space provider expects to have a member in the space this upcoming February.
At 1156 Sixth Ave., between W. 44th and W. 45th streets in Midtown, WeWork secured 28,600 square feet across three floors, renting from landlord APF Properties. They expect a member to move into the office in the first half of 2019.
At 225 W. 39th St., between Seventh and Eighth avenues in Midtown South's Garment District, WeWork has leased 16,000 square feet across two floors from landlord Walter & Samuels. They expect a member to occupy the space in the first quarter of 2019.
On the West Coast, in San Francisco, WeWork signed a 53,643 square-foot lease across seven floors at 755 Sansome St. The landlord, Lingang Investment, was represented by Colliers International. The non-traditional workspace provider plans to open this location in the first half on 2019. Just down the street at 731 Sansome, WeWork also rented 8,400 square feet on the building's fourth floor, inking a deal with landlord Irving & Varda Rabin 1992 Trust. Newmark Knight Frank represented the landlord. WeWork expects this location to open in the first quarter of 2019.
WeWork also took on 17,730 square feet across two floors at 222 Kearny St., signing an agreement with landlord LBA Realty. They expect a member in the space by the first quarter of 2019. CBRE represented the landlord.
Finally, at 166 Geary St., the company signed onto approximately 12,500 square feet across five floors. The landlord was The Jackson Group. WeWork expects to have a member in the space by Q3 2019.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
