Coworking startup WeWork has signed a lease to occupy the entire seventh and eighth floors of Pacific Design Center’s RedBuilding in West Hollywood, adding 70,000 square feet to its portfolio of 13 L.A. County locations.
The announcement of WeWork’s expansion preceded a much larger expansion announcement Thursday in which the company said it has raised $500 million from Japanese conglomerate SoftBank and Chinese private equity firm Hony Capital to expand into China.
The New York City-based company also recently added three more floors, nearly 100,000 square feet, of shared working spaces at its New York office at 125 E. 57th Street, which is also owned by Cohen Brothers Realty Corp.
The company has more than 155 physical locations in 50 cities.
West Hollywood-based companies Abrams Artist Agency and Grindr, and New York-based Digital Brand Architects, are among others leasing space in PDC’s RedBuilding.
Anthony Gatti of CBRE represented WeWork, and Marc Horowitz, Cohen Brothers Realty’s senior vice president, represented the owner and developer, Cohen Brothers Realty, in the transaction.
Reporter Natalie Hoberman can be reached at firstname.lastname@example.org. Follow her on Twitter @hobermannatalie.