Monday, November 2, 2015

WeWork Wants to Build Co-Working Office Space Downtown

WeWork is the leading co-working office company in the United States. Co-working is a hot product for entrepreneurs right now who don't need a lot of space but are looking to be part of a start-up culture and atmosphere. It usually involves a minimal amount of dedicated space and a whole lot of shared resources that include everything from conference rooms to beer and popcorn. Currently, NextSpace on 92 S. Second is the only co-working location in Downtown San Jose.

WeWork is a $10 billion company (with 30,000 members) that is looking to build its first Silicon Valley location in Downtown San Jose. While the company has five offices in San Francisco, there are none in the South Bay.

The rumor is that they are looking to lease between 70,000 and 90,000 SQFT of office space from the Towers@2nd complex on Second Street. These are twin high-rises with Ike's Sandwiches and ISO:Beers on the ground floor. It is also the complex housing the San Jose Mercury News.

If this comes to fruition, it will mean a lot more startups coming to Downtown San Jose. This would no doubt continue to drive the cultural Renaissance Downtown San Jose is experiencing and help fill vacancies with office and retail. Downtown is proving to be an ideal place where people can work, live, and play. As entrepreneurs graduate from co-working to their own dedicated spaces, there are options of all shapes and sizes in Downtown San Jose along with enough housing coming online to put their workers withing walking distance. The future is coming, and it's looking good.

Source: SVBJ

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