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Beacon Capital Inks 2 Downtown Leases With WeWork

Five One Five North State

WeWork is aggressively expanding its Chicago presence. The coworking giant signed two leases with Beacon Capital Partners at AMA Plaza, 330 North Wabash, and 515 North State, which would add over 200K SF to WeWork's downtown footprint.

WeWork will take over two floors at AMA Plaza totaling more than 1,100 desks, while the deal at 515 North State is for five floors and more than 2,000 desks. Both locations are expected to open in November. These would be WeWork's seventh and eighth Chicago locations.

The 515 North State helps Beacon Capital fill a sizable portion of the 394K SF abruptly vacated by Outcome Health when the healthcare startup was sued by investors, accusing the company of misleading them about the company's performance. The lawsuit was settled and Outcome Health CEO Rishi Shah and President Shradha Agarwal resigned.

WeWork added a sixth floor to its largest Chicago location at 20 West Kinzie last month. The company has locations at 111 West Illinois, 220 North Green, 332 South Michigan Ave., 125 South Clark and 100 South State. WeWork claims over 6,000 members in the Chicago area.