WeWork Set to Open The Interlock In Atlanta’s Artisan Hub
Office occupancy in the Atlanta market, driven by back-to-work initiatives and large new-to-market leases, continues to be on an upswing.
In this environment, companies of all sizes in Atlanta are seeking more office options, particularly those that have moved to a hybrid model — a survey in March found that 60% of employers are doing so — and are looking for more flexibility.
“Similar to what we’re seeing around the globe, we’re experiencing strong demand for flex space in Atlanta,” said Uriah Bell, Southeast area director for WeWork. “As more and more companies return to the office, hybrid work has become the name of the game, with employees across virtually every industry seeking work arrangements that allow them to work remotely part time while, at the same time, have office space where they can collaborate with their colleagues in person. These new arrangements have forever altered employers’ real estate needs, and WeWork has the flexibility to offer the types of options they’re looking for.”
Bell said that from January through August of this year, WeWork saw a 29% rise in Atlanta All Access bookings. WeWork launched All Access during the pandemic in direct response to the new ways that people worked. The subscription-style membership offers members the ability to pay a flat monthly rate of $299 plus applicable tax to gain access to hundreds of WeWork locations globally.
He added that during that same time frame, the company has also seen a 151% increase in Atlanta bookings of WeWork On Demand, which allows users, including nonmembers, to book workspaces and meeting rooms starting at $29 per day and $10 per hour, respectively, plus applicable tax.
To meet the growing need for flexible offices in Atlanta, WeWork will soon open a new space in West Midtown at The Interlock, a nearly 40K SF space designed to be the definition of flexibility. The location’s intentional design includes diverse seating and furniture settings like a soft seating lounge, flexible dining and workspace, and nooks and banquettes throughout. There are also demountable partitions and a 14-person boardroom for formal meetings, and space for WeWork All Access and On Demand users to meet the market’s growing demand.
“The demountable partitions and overall flexible nature of this space means that as companies grow, they don’t need to find a new office,” Bell said. “They can simply reconfigure their current space.”
At the same time, large enterprise companies are increasingly embracing flexible work and looking for office space solutions, which is why 17K SF of WeWork The Interlock is dedicated to a fully privatized portion of the floor, for one user with dedicated access. The space includes a private kitchen pantry, sole access to the outdoor terrace and plenty of collaboration and breakout space.
WeWork The Interlock also features phone rooms, on-tap kombucha, a wellness room and a mother’s suite. There is a large outdoor terrace on the south side of the building where members can get fresh air and take in the sights of the city.
WeWork remains committed to members’ safety, which is why the location has card readers in every room and touchless options in the pantry and restrooms. Additionally, Bell said, WeWork has implemented an HVAC system that maximizes the outdoor air it can take in so the air is being constantly cycled out and filtered for peak freshness.
West Midtown is a former railroad hub that has been transformed into a bustling urban center. Bell described it as the perfect example of “urban chic” with several popular restaurants including Barcelona and The Optimist. This area is just minutes from Downtown Atlanta and has become known as the place to find artisan food, crafts and furniture.
It is also home to four arts centers: the Goat Farm Arts Center, Westside Cultural Arts Center, Atlanta Contemporary Art Center and King Plow Arts Center, which visitors can explore during the art walk that takes place every third Saturday of the month.
“This is an incredibly sought-after area and we expect this location to be a flagship for WeWork in Atlanta,” Bell said.
The last year was a busy one for WeWork as a whole. In Q2 2022, the company’s revenue was $815M, an increase of 37% year-over-year, and consolidated occupancy was 72%, matching pre-pandemic levels. This suggests that the demand for flex space across the country continues to rise, especially as companies search for alternatives to a traditional lease agreement as they make their post-pandemic plans.
“People are looking for something different after years at home,” Bell said. “They still want to be able to connect and network with others, but with greater flexibility. We offer that solution.”
This article was produced in collaboration between WeWork and Studio B. Bisnow news staff was not involved in the production of this content.
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