67 Irving Place and Adam Neumann (Credit: Google Maps and Getty Images) WeWork continues to claim space for its mid-sized tenant segment, signing on for 95,650 square feet across three Manhattan locations. The biggest lease transaction in the batch is at CIM Group’s , where the co-working firm is taking a 51,050-square-foot space across eleven floors. WeWork expects to open the location next February. The firm also signed a 28,600-square-foot lease at APF Properties’ 1156 Sixth Avenue and a 16,000-square-foot lease at . Both locations are expected to open in the first half of next year. WeWork’s Arash Gohari represented his firm in the lease negotiations. Granit Gjonbalaj, WeWork’s chief real estate development officer said that since launching HQ by WeWork in August, the company has seen “incredible demand” for the product,” as reflected by each of our existing locations opening at full occupancy.” The firm recently signed two HQ by WeWork leases totaling 45,500 square feet at 50 West 28th Street and 599 Broadway. The firm plans to have a mid-sized tenant portfolio of 1 million square feet by next summer. The firm is now valued at $45 billion after an additional $3 billion investment from Japanese firm SoftBank. The valuation propelled the company past home-sharing service Airbnb, making it the world’s second most valuable startup. The top spot is held by Uber, which has a $60 billion valuation. The new investment came just a month after reports came out that SoftBank was considering spending $20 billion to acquire a majority stake in WeWork. It’s unclear if the latest SoftBank injection is part of that larger sum.
WeWork has added 95,650 sq ft of space in Manhattan for HQ by WeWork, which targets mid-sized companies. The three new properties include 51,050 sq ft at Irving Place, set to open in February, as well as 28,600 sq ft at Sixth Avenue and 16,000 sq ft at West 39th Street, both scheduled to open during H1 2019. The company claims HQ bu WeWork has seen strong demand since it was launched in August and aims to expand its mid-sized tenant footprint to one million sq ft by the summer.