Targeting Midsize Tenants, WeWork Leases 7K SF at 8 West 40th Street
By Lauren Elkies Schram August 27, 2018 1:40 pm
reprints
WeWork has signed a lease for less than 7,000 square feet at 8 West 40th Street, the landlord told Commercial Observer adding to the coworking giant’s space for midsize tenants.
WeWork’s space spans the entire 6,667-square-foot second floor at Jack Resnick & Sons’ 22-story, 162,658-square-foot building between Fifth Avenue and Avenue of the Americas. In the past WeWork only leased large spaces, but recently the company started targeting midsize tenants in the 5,000- to 6,000-square-foot range with a new suite of services called “HQ by WeWork,” as CO previously reported.
“Since its launch a few weeks ago, we have been focused on securing a wide array of locations for our newest offer, HQ by WeWork,” a spokesman for WeWork emailed. “The signing of this lease, at 8 West 40th Street, builds on the six leases we have already signed in New York City and will form part of the 1 million square feet we intend to provide HQ By WeWork members within 12 months.”
WeWork will take space previously occupied by Summit Golf Brands. Landlord and tenant were represented by in-house teams, Jack Resnick & Sons by Brett Greenberg and Fran Delgorio and WeWork by real estate pros Arash Gohari and Chris Grimaldi. Resnick’s spokeswoman declined to provide any lease details.
“We are excited by the opportunity to grow our relationship with WeWork,” Jonathan Resnick, the president of Jack Resnick & Sons, said in prepared remarks. “Their decision to establish new offices at 8 West 40th Street speaks to the quality of our building, its outstanding Bryant Park location, and our firm’s dedication to first rate service and asset management.”
Tenants at 8 West 40th Street include Marchon Eyewear, a manufacturer and distributor of eyewear and sunglasses; Vision Service Plan, a vision care health insurance company; Panthera, a charitable organization devoted to preserving big cats; and the Altman Foundation, which supports programs and organizations within New York City.
Earlier this month, WeWork and Resnick transacted with the coworking company taking nearly 70,000 square feet at the landlord’s 880 Third Avenue between East 53rd and East 54th Streets.
