Co-working firm Spaces signs for 69k sf in Santa Monica

Water Gardens campus is 8th location for firm in LA

Los Angeles /
Jan.January 30, 2019 01:30 PM
CBRE’s Daniel Rainer and the Water Garden in Santa Monica

Spaces is eating up more office square footage in Los Angeles.

The coworking firm, which is owned by International Workplace Group, signed a 10-year lease for 69,200 square feet at the Water Garden office campus in Santa Monica, adding to its rapid expansion in the region over the past year, CBRE announced.

The 17-acre office campus at 1620 26th Street was recently renovated with retail space, restaurants, banking, a fitness club, child care, and outdoor space for meetings, concerts, movie screenings and events.

Spaces is expected to move in during the fourth quarter.

Daniel Rainer, a CBRE agent, represented Spaces in the transaction.

Water Gardens is Space’s second location in Santa Monica, and eighth in the region, bringing its footprint in L.A. to 323,000 square feet. Spaces opened five locations in the county last summer, and also has locations in Hollywood, West L.A., and Downtown.

Los Angeles is the second-largest co-working market in the country with a total of 4.1 million square feet of flexible space in the 222 million square feet of total office market, according to CBRE.

Earlier this month, competing firm Industrious signed a lease for its second Downtown L.A. location and its sixth overall in the county. Other competitors like WeWork and NeueHouse have also continued to grow and expand the past few months.


Related Articles

arrow_forward_ios
Riot Games subleases Beachbody Company’s Santa Monica offices
Riot Games subleases Beachbody Company’s Santa Monica offices
Riot Games subleases Beachbody Company’s Santa Monica offices
Activision CEO Bobby Kotick and Pen Factory (Getty, Pen Factory)
“Tony Hawk’s Pro Skater” creator inks new HQ in Santa Monica
“Tony Hawk’s Pro Skater” creator inks new HQ in Santa Monica
Boxing analyst Larry Merchant and his Santa Monica home (Compass, Getty)
Legendary boxing analyst Larry Merchant sells Santa Monica home
Legendary boxing analyst Larry Merchant sells Santa Monica home
1 Glen Bell Way (LBA Realty)
LBA Realty sells Irvine office campus where Ford, Taco Bell lease
LBA Realty sells Irvine office campus where Ford, Taco Bell lease
Bardas Investment Group founder David Simon and project renderings of Echelon Studios (Bardas)
Bardas Investment, Bain expand $420M Echelon Studios plan
Bardas Investment, Bain expand $420M Echelon Studios plan
CBS CEO George Cheeks with part of the Studio Center (Getty)
ViacomCBC looks to sell 38-acre production studio campus
ViacomCBC looks to sell 38-acre production studio campus
2221 Park Place (Cardinal Investments)
A pair of El Segundo office conversions sell in eight-figure deals
A pair of El Segundo office conversions sell in eight-figure deals
Renderings of Third and Arizona Town Square after the proposed Third Street Promenade Stabilization and Economic Vitality Plan (Downtown Santa Monica)
Santa Monica’s Third Street Promenade could open up to housing, hotels
Santa Monica’s Third Street Promenade could open up to housing, hotels
arrow_forward_ios

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

Loading...