Common Desk, a division of co-working firm WeWork, is venturing into the San Antonio market.
While the company already has an established presence in Dallas-Fort Worth, Houston, and Austin, this will be its first location in the Alamo City.
The $1 million renovation at the Travis Park Plaza will consist of an interior remodel of about 20,000 square feet of existing office space, according to state filings. It will begin construction in November and be ready for use by April next year.
While the flex office market took a hit during the pandemic due to the mass adoption of remote work, the sector has recently begun to bounce back, particularly in Texas, which leads the nation in the return-to-office movement.
In fact, Houston recently ranked as the largest U.S. market for flex office growthby CBRE, growing about 5.3 percent from the fourth quarter of 2020 to the third quarter of 2021, which was led primarily by the expansion of Common Desk before it was bought by WeWork earlier this year.
Common Desk’s continued expansion in Texas is a rare bright spot for its troubled parent company, which saw its stock close at the end of the third quarter down nearly 80 percent from the year before.
In California it recently closed its nearly 75,000-square-foot co-working space in Burbanka, as well as its Hollywood location.
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