WeWork Looks To Reduce Size Of New Dupont Circle Location

1333 New Hampshire
The Office Building At 1333 New Hampshire Ave. Nw

After quickly expanding its D.C. footprint with a string of deals in 2018 and early 2019, WeWork appears to be looking to shed some of its new space.

The coworking company listed 56K SF of its planned 100K SF location at 1333 New Hampshire Ave. NW as available for sublease, the Washington Business Journal reports, citing CoStar.

WeWork in December 2018 jointly acquired the building with The Meridian Group for $136.5M, its first D.C. purchase with its WeWork Property Advisors arm. The team launched a renovation of the building, forcing restaurant tenants Buffalo Billiards and Front Page to close. As part of the deal, WeWork committed to lease 100K SF of the 350K SF building as a coworking space.

The building sits across the street from the Dupont Circle Metro station and about a half-mile from WeWork's first location in the neighborhood at 1875 Connecticut Ave. NW. In addition to the sublease listing, WeWork has also removed the 1333 New Hampshire location from its website, the Business Journal reported.

The move comes as WeWork continues to navigate a series of challenges, from the aftermath of last year's failed IPO to the coronavirus pandemic putting an additional strain on its finances to lawsuits and reported investigations. The company has responded to the pandemic by rolling out new space layouts and social distancing measures at its coworking facilities.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Washington, D.C. Newsletters
Related Stories

Why Top-Secret Facilities Are Permeating Greater D.C.'s Office Market

Northern Virginia Office Tower Sells For Double Its 2024 Price

Design Plans Revealed For RFK Stadium Parking Garages, Headed To Review

Security Tech Firm Plans Loudoun HQ Move: The D.C. Deal Sheet

D.C. Investor Behind The Stacks Swaps CEO For First Time In 25 Years

Pennsylvania Avenue Office Sells For Repositioning: The D.C. Deal Sheet

Georgetown Waterfront Office-To-Condo Conversion Lands Financing

Westfield Montgomery Pays Off $350M Loan As New Retailers Expand In Mall

Tishman Misses Payment Deadline On $450M International Square Loan

Real Estate Firm Debuts With $126M Purchase Of Historic D.C. Building

Surging Costs Force Alexandria Developers To Shift Plans

Buyer Of BXP's Sumner Square Revealed: The D.C. Deal Sheet