February 18, 2016
New York-based WeWork is opening its first location in San Francisco’s North Financial District. The rapidly-expanding, co-working startup has reportedly signed a lease for 70,000 square feet of space at 600 California St., a 400,000-square-foot building near Chinatown.
WeWork operates five other locations in the City, mainly in the South of Market and Mid-Market areas. The company appeals to tech startups and entrepreneurs that prefer the flexibility of renting out desks and offices by the month.
Seattle-based real estate adviser Bentall Kennedy acquired 600 California St. for $216 million in late 2014, on behalf of the Multi-Employer Property Trust fund. Since then, the company and its JLL leasing team have increased occupancy to 96-percent.