WeWork office space at 199 Water St. in Manhattan's Financial District/ Image credit: WeWork
NEW YORK CITY—WeWork is leasing 55,000 square feet across the second through fourth floors, and the sixth and the 11th floor at 30 Wall St. They plan to have the space available for their headquarters by WeWork program by Q3 2019.
Although not disclosing the length or price of the lease, WeWork notes the landlord is Atlantic 30 Wall. The Real Deal reported that the Pyne family owns 30 Wall St., and online Pyneco Companies lists 30 Wall St. as one of its purchases. A WeWork spokesperson neither confirmed nor denied the Pyne family's involvement in the lease. Commercial Observer reported that asking rent was $52 per square foot.
“We're delighted to have secured 55,000 square feet at 30 Wall St., making it our latest location for headquarters by WeWork,” says Granit Gjonbalaj, chief real estate development officer at WeWork. “This will add to our presence in FiDi, where we are seeing incredible demand from companies of all shapes and sizes wanting to be a part of our community.”
Among their other FiDi deals, in February, WeWork signed a 15-year, 201,231-square-foot lease for the 30th through the 35th floors of Jack Resnick & Sons' 35-story building at 199 Water St.
WeWork reports it now has 40 locations for its headquarters for WeWork program in New York, San Francisco and Toronto. Arash Gohari, co-head of real estate for US, Canada and Israel at WeWork is leading this initiative. It focuses on corporate tenants, instead of the single desks or co-working arrangements. The program goes head-to-head in competing for clients with office space provider Knotel.
Formerly referred to as HQ by WeWork, the offering is now called headquarters by WeWork. The Real Deal reported WeWork changed the name after Regus filed a copyright lawsuit which alleged the name infringed on their HQ Network System brand. A WeWork spokesperson confirmed with GlobeSt.com that the name issue has been resolved.
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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.
