The 27-story One City Center in downtown Durham has a new tenant: WeWork.
The New York City-based co-working space announced Friday it will lease 58,000 square feet on the fourth and fifth floors of the building, which is still under construction. The company expects its new location will be able to accommodate at least 1,000 members.
WeWork expects to open the Durham location in the fall. In August, it announced plans for downtown Raleigh’s One Glenwood building, where the company will lease 81,000 square feet in a space that’s scheduled to open in early 2019.
“We are excited to expand our presence in North Carolina with our first Durham location, WeWork 110 Corcoran St.,” stated Bobby Condon, general manager of WeWork’s Southeast operations. “Durham is truly a unique, innovative city in the heart of North Carolina, and 110 Corcoran St. reflects our commitment to the community and its creators who are looking for a new way to work.”
WeWork offers a range of amenities and workspace options to its members – from private offices to reserved desks or work areas.
Terms of the lease deal were not disclosed.
In 2016, Duke University signed on as the first tenant in the $80 million building. It signed a prelease agreement for 55,000 square feet for nearly $17.3 million over its 10.5-year contract. The building has a total of 130,000 square feet of office space with street-level retail and residential units.
Read the entire Triangle Business Journal article here: https://www.bizjournals.com/triangle/news/2018/01/05/wework-to-open-in-downtown-durham-s-27-story-tower.html