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International co-working operator Spaces is far behind competitors like WeWork in terms of its New York City footprint, but it is about to beat WeWork to one area of the city: Staten Island.
IWG, Spaces' parent company, signed a 15-year, 30K SF lease at Triangle Equities' Lighthouse Point development across the street from the Staten Island Ferry terminal in St. George's in 2015, when it was still known as Regus. Now it has decided to use that space for its co-working brand Spaces, The Real Deal reports.
Spaces is also closing in on a lease at the Pioneer building in Downtown Brooklyn, owned by Quinlan Development Group and Building & Land Technology. Scott Sloves of CBRE brokered the Lighthouse Point deal and is working with Spaces on the Pioneer building lease as well.
Though Spaces only has one New York location already open for business at the Falchi Building in Long Island City, it plans to have six by the end of the year, including the Lighthouse Point and Pioneer locations. It already has leases at the Helmsley Building and 1740 Broadway in Manhattan, according to TRD.
Spaces will occupy nearly all of the office space at Lighthouse Point, which will be a 600K SF development including retail, a 150-room hotel and multifamily buildings by the time it is completed in 2019. The New York Wheel is also planned to be nearby, but its construction remains in limbo.
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