WeWork Expands Investment and Desk-Count in Downtown Denver
Global collaborative workspace brand builds into Tabor Center
The new office space will emerge on the 25th through 27th floors of the 30-story, 734,915-square-foot mixed-use tower on the 16th Street Mall. The property recently underwent a $12 million renovation designed by Denver’s Davis Partnership Architects.
“We are excited to help accelerate business growth by providing a platform for the city’s creators to build great businesses in Colorado,” says Gina Phillips, WeWork’s general manager of the Denver and Pacific Northwest region. “Demand for our spaces has been incredible, from companies of all sizes and from every sector, and opening our new location inside the Tabor Center is the next step in our commitment to being a great partner to the Mile High City.”
By adding nearly 1,200 desks in the iconic downtown Denver building, WeWork’s total desk-count will exceed 3,000 in the metro area, including 2,000 seats in the first local outpost near Union Station, which opened in April 2015, and 875 seats in its Lower Highlands location.
A handful of enterprise tenants are looking to expand their Denver-based operations with desk space at the latest local WeWork, as well as freelancers, consultants and a host of small- to medium-sized companies.
New York-based WeWork, a seven-year-old company currently valued at $21 billion has more than 200 locations scattered in 18 countries. Though many know WeWork as a hip, shared office for millennials with slogans such as “Hustle Smarter” ironed onto its t-shirt-clad staff, the real estate meets technology firm has bigger ambitions, positioning itself as the leading experts on commercial office space.
WeWork remains bullish on Denver, seeing lots of potential for further growth, according to a spokesperson.
“I was one of the first members at WeWork in Denver,” says Steve Weigler founder of EmergeCounsel. “Because of WeWork, I’ve met people, not just in Denver, but around the world. The spaces are designed to help people meet, connect and do business.”
Weigler’s firm partnered with WeWork to design and promote an event series for newcomers to the city called, “What we love.” Meanwhile, last May, WeWork debuted its Veterans in Residence program in Denver, inviting 10 former military servicemen and women to take over a dedicated workspace, complete with mentorship, workshops and more. The program has since rolled out nationally.
“As our domestic and international economic development efforts evolve, WeWork’s investments in our community keep us competitive and relevant in attracting and expanding firms to Colorado,” says Sam Bailey, vice president of economic development for the Metro Denver Economic Development Corporation.
In addition to beer on tap and freaky-fast internet, WeWork’s members also receive access to a suite of services, including health insurance, accounting software and more, at discounted rates. Private, glass-walled offices and shared conference room rest alongside hot desks, phone booths and print stations. Options abound for members, from desk-count to size and lease-terms.
“WeWork’s continued expansion and investment enhances the diversity of our office market, providing businesses of all shapes and sizes with scalable options in the heart of our thriving center city,” says Tami Door, president and CEO of the Downtown Denver Partnership.
The Tabor Center, constructed in 1985, is owned by Chicago-based Callahan Capital Partners and Canadian real estate investment trust, Ivanhoe Cambridge. WeWork’s immediate neighbors include the Westin Hotel, the 40,000-square-foot Colorado Athletic Club, Cheesecake Factory and The Palm.
“Denver is an incredible growth story, and people are moving form all over to be part of this vibrant city,” Phillips says.