WeWork Lands French Tech Company For 30K SF Custom Office In Tribeca
Contentsquare, a digital experience analytics company, is expanding in New York City with four full floors at a downtown WeWork location.
The company signed a 30K SF lease with WeWork at 53 Beach St. in Tribeca, the coworking firm announced. The deal is for dedicated space for 36 months, and the partnership means WeWork will tailor the space for Contentsquare with custom branding and designs aimed at supporting a hybrid work model.
Contentsquare is planning to grow its New York presence, hiring another 1,500 people to join its current workforce of 150.
“As Contentsquare moves toward a more flexible and hybrid approach to work, coming together in person to collaborate and build community will remain an important part of the company’s future,” Contentsquare Chief People Officer Celia Dorr said in a statement. “As the company continues to grow, it's important to us to provide our team with a great, flexible place to work."
This lease, the fifth Contentsquare has with WeWork around the world — including its headquarters in Paris — will take up most of the seven-story, 43K SF 53 Beach St. building. It is one of four WeWorks within a roughly 10-block radius, according to its website, which describes the building as nearly full.
The deal comes as WeWork continues its attempt to stabilize after several years of economic upheaval. Like most coworking companies, it was hit hard by the pandemic that wiped out some competitors altogether. It had to shrink its portfolio after years of rapid expansion — especially in New York — and laid off thousands of staffers. In October, WeWork CEO Sandeep Mathrani said the “rationalization” of the WeWork's portfolio was complete. That same month, WeWork went public after completing a merger with a special-purpose acquisition company, or SPAC.
In December, WeWork’s global real estate portfolio featured 756 locations in 38 countries, according to its preliminary sales results for the month, with 912,000 workstations and 590,000 physical memberships. It reached a deal to acquire Dallas-based coworking provider Common Desk earlier this month.