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The Real Deal Los Angeles

WeWork inks 70K sf lease at Pacific Design Center’s RedBuilding

By Cathaleen Chen | July 27, 2017 08:30AM

Adam Neumann and the RedBuilding at 750 San Vicente Boulevard (Credit: Scott Frances via Artribune)

WeWork just signed a lease for two full floors in the Pacific Design Center’s RedBuilding in West Hollywood, its landlord Charles Cohen announced Wednesday.

The co-working firm will have a footprint of 70,000 square feet on the seventh and eighth floors. WeWork joins gay hookup app Grindr, Abrams Artists Agency and Digital Brand Architects as tenants of the red, glassy building at 750 San Vicente Boulevard.

While terms of the lease are unknown, the asking rate of Grindr’s expansion last year was $4.75 per square foot per month modified gross. This figure would amount to just under $4 million per year for WeWork’s space.

The tenant was represented by Anthony Gatti of CBRE in the transaction. Cohen Brothers Realty’s Marc Horowitz, the national director of leasing, represented his firm.

WeWork is a tenant in one of Cohen’s New York properties: It leases 100,000 square feet at 135 East 57th Street. Now valued at $20 billion, the company has 15 offices in L.A., not including its latest deal.

WeWork’s most recent lease deal in L.A. was for 75,000 square feet in Worthe Real Estate Group’s Tower Burbank at 3900 West Alameda Avenue, The Real Deal reported in January.