Atlanta’s coworking craze is raging on in Midtown.
WeWork, the world’s largest coworking space provider, has officially signed a lease for its next intown location at 881 Peachtree Street, a 29-story, mixed-use project being jointly developed by Hanover Company and The Loudermilk Companies.
WeWork is taking almost 40,000 square feet across four floors, and the deal allows the company exclusive use of a rooftop amenity space fronting Peachtree Street, officials announced today.
Expected to create 680 new desks for WeWork members this fall, the deal marks the second major announcement involving WeWork’s decision to lease substantial intown office space in as many months.
Bobby Condon, WeWork Southeast general manager, cited the new tower’s central location and close proximity to transit as selling points. The building, which is nearing completion, is planned to offer 300 apartments and 11,000 square feet of retail as well.
The lease means WeWork will be moving its Southeast headquarters and all regional employees down the street from 1372 Peachtree, a renovated three-story building near the High Museum of Art unveiled just last year.
At that location, rents for access to shared desk space begin at $250, while private offices command $450 and up monthly.
According to company statistics, WeWork counts more than 400,000 members, with 400 locations in 100 cities around the globe. It was founded in New York City in 2010.
Meanwhile, in downtown Atlanta, WeWork has laid claim to a larger space at the recently renovated, 36-story 101 Marietta Street tower.
Per a deal announced in late January, WeWork inked enough space for more than 1,000 new office workers downtown (103,000 square feet) in a deal that will include WeWork signage atop one of downtown’s most recognizable buildings.
WeWork operates or has announced nine locations in Atlanta, including spaces at Colony Square, Buckhead’s Terminus, and forthcoming outposts at Coda and The Interlock.