WeWork Nabs 40K SF in North Hollywood

reprints


WeWork is on a tear through Los Angeles. The coworking giant inked its latest lease at 5161 Lankershim Boulevard in North Hollywood, Commercial Observer has learned.

SEE ALSO: New York Life Scoops Up North Hollywood Property for $103M

The shared office provider took 40,000 square feet on the second floor of the office property owned by Beacon Capital Partners, according to a WeWork spokeswoman. The terms of the deal were not disclosed. The space will accommodate roughly 600 members and open this summer.

Spokespeople for WeWork and the landlord both declined to comment on the deal.

Bento Box Entertainment, the animation studio behind Bob’s Burgers, also renewed 27,300 square feet of office space in the North Hollywood Arts District property last year, per The Real Deal. Beacon purchased the 197,000-square-foot building for $69 million in 2017.

Elsewhere in the city, WeWork recently inked a 78,000-square-foot lease at 1031 South Broadway in Downtown L.A. and 60,000 square feet at 405 Mateo Street in the Arts District. And it doubled its footprint in the Pacific Design Center to 163,000 square feet last October, as CO reported.