Add another co-working space to Downtown Los Angeles’ growing stock.
Carr Workplaces has inked a lease for its first L.A. location, a 24,000-square-foot space at the massive mixed-use property, The Bloc, according to the Los Angeles Business Journal. The Washington, D.C.-based company will open the location in the spring.
The firm joins a crowded market for co-working space Downtown. WeWork announced last month it was leasing 78,000 square feet on South Broadway. And in January, Industrious said it was leasing 22,300 square feet at the Citigroup Center.
CommonGrounds and Cross Campus have also both been in talks in recent months to occupy more space in DTLA.
The Carr lease is a win for National Real Estate Advisors, the firm that owns the Bloc. The property has had a number of setbacks since NREA acquired it in 2013 and redeveloped it together with the Ratkovich Company. Ratkovich sold its stake to NREA last April and now the tide appears to be turning. Fast fashion retailer Uniqlo signed a 15,000-square-foot anchor lease there in May.
Carr has two locations in Orange County along with two-dozen throughout the country. The bulk of its properties are in Washington, D.C., and Virginia. But others include San Francisco, Chicago and New York, according to its website. [LABJ] — Dennis Lynch