WeWork Inks 4 New ‘Headquarters’ Locations in Midtown
By Rebecca Baird-Remba May 23, 2019 6:15 pmreprints
WeWork (WE) has signed another four deals in Midtown for its single-tenant “headquarters” office format, the company announced this morning.
The coworking giant has inked an agreement with APF Properties for four new outposts spanning 110,500 square feet, according to a press release. In the smallest deal, WeWork has leased 23,100 square feet on the second and fifth floors of 25 West 45th Street between Fifth Avenue and Avenue of the Americas. And it took 28,100 square feet on the 16th and 20th floors of 28 West 44th Street, which is also between Fifth Avenue and Avenue of the Americas. Those two locations will open this summer.
WeWork will also occupy 30,850 square feet on the fifth and sixth floors at 183 Madison Avenue, which is set to open this fall. Finally, the shared workspace company took a fourth location consisting of 28,600 square feet across the fifth, seventh and ninth floors at 1156 Avenue of the Americas, which has already opened to customers. Asking rents and lengths of leases in the transactions weren’t disclosed.
“We were very intrigued when WeWork approached us with the concept of a portfolio deal,” APF Principal Kenneth Aschendorf said in prepared remarks. “It provided us with the opportunity to join forces with the largest and most innovative company creating flexible workplace environments and communities in the world today, and to do so in a targeted, measured and efficient manner.”
WeWork handled the deals in-house with a team led by Arash Gohari and Granit Gjonbalaj. APF was represented in all four leases by Andy Sachs, Tim Gibson, and Jordan Gosin of Newmark Knight Frank.