Adam Neumann, Arash Gohari, and one of their new offices in Santa Monica
WeWork is expanding its “headquarters by WeWork” platform, signing lease deals for locations in Los Angeles, San Francisco, New York and Seattle. The three spaces in L.A. mark an entrance for its headquarters service, which caters to mid-size companies without WeWork branding, the company announced Friday.
The headquarters by WeWork spaces are typically smaller than traditional WeWork sites, aimed at companies with up to 250 employees. The leases bring the total square footage under WeWork’s headquarters brand to 1 million square feet. All of the new locations are expected to be open by this fall.
WeWork — a subsidiary of We Company — has been in rapid expansion mode in L.A., and now has 1.6 million square feet in the city.
At the L.A. sites, the co-working giant signed a deal with Venice Investments for 11,050 square feet at 8305 Sunset Boulevard on the Sunset Strip; and in Santa Monica, with Maxxam Enterprises for 14,430 square feet at 1453 3rd Street Promenade; and with Langdon Street Capital for 5,800 square feet at 1547 9th Street.
In New York, where it has multiple headquarters locations, WeWork secured a deal with JPMorgan for 38,000 square feet across six floors at 525 Broadway. In San Francisco, it snagged another 22,940 square feet at 28 2nd Street with Kensington Investment Group.
And in Seattle, it signed a lease with Hines for 14,500 square feet at 10885 Northeast 4th Street.
The expansion comes as We Company gears up for a highly anticipated initial public offering. Late last month, news circulated that the company was in discussion with banks to secure a $2.75 billion credit line.