Amid a turbulent couple of weeks, WeWork opened its 20th LA-area location today—a 60,000-square-foot building in the Arts District that dates to 1924 and was built as a production facility for the Maxwell Coffee company.
“After great success in our first two Downtown locations, it was clear that the Arts District is exactly where we want to be next,” said Kley Sippel, general manager for WeWork in Southern California in a statement.
The building at 1019 East Fourth Place, referred to on WeWork’s site as Maxwell, is five floors of office space with industrial windows, exposed brick, colorful office-bohemian furniture, and views of the Downtown skyline from some offices.
Some floors are still works-in-progress—the ground floor, where the main open coworking area will be, is expected to open in November—while others look plucked out of any other WeWork in the city.
WeWork leased the entire three-building site, including an adjacent, roughly 40,000-square-foot structure with five floors of parking and three of offices. Cars are already using the structure, though the office space there is expected to open in November.
WeWork announced in July that it had signed its 30th lease in the LA area—four floors in the Wilshire Courtyard in Miracle Mile.
Two Downtown locations, both south of Olympic near the Fashion District and South Park, as well as locations in North Hollywood, Woodland Hills, Glendale, and Santa Monica are among the list of announced leases in the LA area. The locations are listed as “opening soon” on WeWork’s site, but specific dates for their openings were not available.
Last week, WeWork’s chief executive officer Adam Neumann was pushed out; this week, WeWork’s parent company indefinitely postponed its IPO, and there is a real possibility that the company’s $47 billion valuation could be sliced down to $20 billion.