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The Real Deal Los Angeles

WeWork takes another 54K sf at Pacific Design Center

Co-working giant now has over 120K sf at the West Hollywood complex
By Laurie L. Dove | August 03, 2018 09:00AM

Pacific Design Center Green Building and WeWork CEO Adam Neumann (Credit: Getty Images)

WeWork has nearly doubled its office space at the Pacific Design Center in West Hollywood.

The co-working giant leased an additional 54,000 square feet in the Melrose Avenue complex’s Green Building, the company confirmed. That adds to its existing 70,000 square feet of space in the Red Building’s seventh and eighth floors, which the firm took last year.

In addition to its expansion at the 1.6 million-square-foot Pacific Design Center, WeWork plans to occupy about 75,000 square feet across three floors at the Pacific Corporate Towers in El Segundo this fall. That office at 222 N. Sepulveda will accommodate up to 1,300 people and will include the amenities co-working users have come to expect, like a kitchen and open work areas.

The company’s Los Angeles area locations include Santa Monica, Pasadena, Burbank and Long Beach, with DTLA and other locations in between.

Kley Sippel, interim general manager for WeWork SoCal, said the company would continue to open more locations in L.A. The company, now valued at $20 billion, has 17 co-working offices in the city, including its latest deals in WeHo and El Segundo. Sippel called the Pacific Design Center “a hub for creative individuals, entertainment teams and enterprise companies.”

Smaller co-working firms have also seized on its popularity in L.A. Work Well Win — founded by a former WeWork executive — opened a 20,000-square-foot space on Santa Monica’s Third Street Promenade that has yoga and meditation rooms. Creative Talent Network’s CTN Creator Space in Burbank hopes to appeal to students and professionals in the animation industry with hulking plasma screens and access to animation software.

Collectively, co-working firms across Greater L.A. now occupy about 3 million square feet of office space, according to Cushman & Wakefield. This year alone, co-working companies are expected to fill an additional 364,000 square feet, with most leases lasting 10 to 12 years.

Natalie Hoberman contributed reporting.