WeWork takes over Tumblr’s old HQ

Co-working company will use location for its HQ by WeWork division

New York /
Sep.September 28, 2018 01:45 PM

35 East 21st Street and WeWork’s Granit Gjonbalaj (Credit: Google Maps and Propco Holdings)

WeWork signed a lease for all 100,000 square feet of office space at the Flatiron District building that previously served as Tumblr’s headquarters.

The co-working company inked the deal at Centaur Properties’ 35 East 21st Street for its HQ by WeWork division, which targets medium-sized companies with 11 to 250 employees, Commercial Observer reported.

The asking rent and the length of the lease were not reported.

WeWork said it expects HQ by WeWork to have about 1 million square feet across the company’s portfolio by next summer.

“Since we launched HQ by WeWork in July, hundreds of companies have come to us looking for private, flexible and cost-efficient spaces,” Granit Gjonbalaj, the company’s chief development officer, told the publication.

Newmark Knight Frank’s Daniel Levine represented Centaur Properties in the deal. WeWork did not have a broker.

Social media website Tumblr used to have its headquarters at the building before it consolidated offices with Yahoo following the company’s $1.1 billion acquisition in 2013.

WeWork earlier this month announced it is Manhattan’s largest private office tenant with a portfolio totaling 5.3 million square feet. [CO] – Rich Bockmann


Related Articles

arrow_forward_ios
Wendy Silverstein (Credit: Getty Images)
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
WeWork CEO Adam Neumann (Credit: Getty Images and iStock)
WeWork’s side businesses are fizzling
WeWork’s side businesses are fizzling
Sarah Pontius (Credit: Union College)
Another head rolls at WeWork
Another head rolls at WeWork
Terreno Realty CEO W. Blake Baird and an aerial of the property (Google Maps)
Terreno Realty pays $44M for NJ industrial site
Terreno Realty pays $44M for NJ industrial site
Madison Realty Capital Co-Founders Josh Zegen and Brian Shatz with a rendering of the River North development (Madison Realty Capital, FXCollaborative)
Madison Realty’s altered plans for SI complex approved
Madison Realty’s altered plans for SI complex approved
Pandemic forces mom-and-pop landlord to sell out
Pandemic forces mom-and-pop landlord to sell out
Pandemic forces mom-and-pop landlord to sell out
Sandeep Mathrani (left) is WeWork's current CEO after replacing Adam Neumann (right) in 2019 (Getty, WeWork)
WeWork stock up on first day, but profitability still fuzzy
WeWork stock up on first day, but profitability still fuzzy
PBC's Eli Elefant and 452 Fifth Ave (PBC)
Elefant’s PBC to liquidate $2B in US real estate, including HSBC building
Elefant’s PBC to liquidate $2B in US real estate, including HSBC building
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...