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11/27/18
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WeWork, the national coworking company, has more than doubled its presence at the Pacific Design Center (PDC) to accommodate the rapid growth and popularity of WeWork’s model for shared working environments that appeal to young, hip, and creative clients.
Previously, WeWork leased the entire 7th and 8th floors of PDC’s newest RedBuilding for a total of 70k sf. In addition, WeWork has added 39k sf on the 11th floor of the RedBuilding, and another 54.5k sf on the 7th floor of the Green Building, all in long-term lease agreements.
WeWork, one of the fastest-growing startups in the U.S., is also a tenant in several of PDC owner Charles Cohen’s buildings in New York City.
“With 1.7 million people predicted to be working in thousands of coworking spaces worldwide by the end of 2018, WeWork is well prepared for the future, thanks to PDC’s large, flexible spaces that can accommodate a multitude of configurations,” said Marc Horowitz, Cohen Brothers Realty Corp. Senior Vice President/ National Director of Leasing. Horowitz represented both parties in the lease expansion negotiations.
WeWork and its entrepreneurial, millennial clients are a perfect fit for the Pacific Design Center, with its creative mix of entrepreneurial and entertainment tenants and its sought-after West Hollywood location. Coworking is a style of different independent companies or professionals conducting their activities in a shared office or studio environment.
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