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WeWork to lease space at $200M Atlanta office project

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WeWork to lease space at $200M Atlanta office project

Flexible workspace giant WeWork Cos. Inc. could lease two floors at developer New City LLC's nearly finished $200 million office building at the Eastside Trail in Atlanta, the Atlanta Business Chronicle reported, citing building permit applications.

According to the permit applications, the cost to build out the new WeWork space on the second and third floors in the building at 725 Ponce is $3.2 million, the publication noted, adding that the price has not been verified. A lease between the two parties has not yet been signed, the May 22 report added, citing sources familiar with the process.

WeWork and New City did not comment on the matter, according to the publication.

In Manhattan, N.Y., the coworking company's Headquarters by WeWork division, which caters to medium-sized businesses, agreed to lease 52,477 square feet at Adler Group Inc.'s office building at 550 Seventh Ave. in the Garment District, Commercial Observer reported May 22.

The company will occupy five noncontiguous floors at the 24-story building.

Kaufman Organization represented both WeWork and Adler in the lease deal, the report added.