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WeWork marketing 350K sf of LA office space
Co-working firm offering up entire buildings
UPDATED, Aug. 27, 2021, 10:17 a.m.: WeWork is marketing 350,000 square feet of office space in Los Angeles.
The co-working giant has hired JLL to market the four properties — include entire buildings — part of its nationwide effort to fill millions of square feet of empty office space.
WeWork is offering individual suites, whole floors or entire buildings, according to JLL. Any firm that takes the space can brand it as its own.
The properties are: 222 Pacific Coast Highway in El Segundo (122,000 square feet), 1240 Rosecrans Avenue in Manhattan Beach (60,000 sf ), 10250 Constellation Boulevard (86,000 sf), and 12130 Millennium Drive in Playa Vista (79,000 sf).
The company will still hold the leases on the buildings. WeWork said the spaces would be filled through traditional co-working agreements with firms.
In June, WeWork said it was broadly focused on larger tenants who can provide long-term stability — a pivot from boasting flexible leases.
From April through June, it closed over 400,000 square feet of deals in L.A., said WeWork’s Elton Kwok. Most of that involved full-floor and full-building deals, he said. In July, the company signed Alo Yoga to its entire 73,000-square-foot office outpost in Beverly Hills.
The firm has also tried to unload space in the L.A. in recent months. In July, it dropped exited about 30,000 square feet of space in the Arts District, in a property owned by Hudson Pacific Properties.
Note: This article has been updated to reflect that WeWork said it intends to fill the space through traditional co-working agreements.