With WeWork's lease, the 501 East Kennedy Blvd. Tower will be renamed “WeWork Place.”
TAMPA, FL—After announcing its entrance into the Tampa office market earlier this year, co-working space provider WeWork has inked a deal at second location in Downtown Tampa that will bring its presence here to more than 110,000 square feet.
WeWork has signed a lease for three entire floors totaling more than 60,000 square feet at 501 East Kennedy Blvd., which can accommodate more than 1,000 desks for WeWork members. The company also secured naming rights for the entire 20-story office building with property owner Parkway Property Investments, which will rename the office tower “WeWork Place.”
“WeWork is excited to provide our future members in Downtown Tampa with the space and community to create their life's work at WeWork,” says Bobby Condon, Southeast general manager for WeWork.
He adds, “Centrally located on Kennedy Boulevard, WeWork Place will be the largest, highly amenitized shared workspace in the Tampa Bay area. Our members will have convenient access to nearby retail, restaurants, parks and more—all just 10 minutes away from Tampa International Airport, Westshore and other major roadways. We see great potential in Tampa and look forward to expanding our footprint in the area for years to come.”
WeWork Place will officially open later this year. WeWork members will have access to the building's amenity floor, which features conference and fitness centers. The ground floor also features restaurants and a full-service bank.
Cushman & Wakefield worked with WeWork on the lease transaction.
“Parkway recognizes the need and value of collaborative office space and shared workspace solutions across our portfolio,” says Parkway Property Investments president Allen de Olazurra. “We consider WeWork to be a best-in-class operator and expect WeWork Place to be the five-star solution for collaborative office space in Tampa.”
In early 2019, WeWork announced its first lease in Tampa in the Tampa Heights district. WeWork at The Heights will be located at a mixed-use development being built at 2002 N. Tampa St. on the northern end of Downtown Tampa. WeWork's space will encompass two floors totaling more than 50,000 square feet. That location is scheduled to open in the spring of 2020.
Founded in New York City in 2010 by Adam Neumann and Miguel McKelvey, WeWork currently has more than 500 physical locations in over 100 cities and 27 countries around the world.
Bloomberg reports that WeWork announced on Monday that the firm doubled its sales to $1.82 billion in 2018 from a year earlier. Over the same period, WeWork's losses also more than doubled to $1.93 billion.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
