WeWork May Finally Plant First Silicon Valley Flag
WeWork is looking to expand into San Jose, and is in talks to grab 70k to 90k SF at Harvest Properties' Towers@2nd in downtown.
The move would be a first for the co-working giant (with a valuation now north of $10B), as its yet to enter the tech epicenter. WeWork has five locations in San Francisco and one in Berkeley, and just signed a lease for 65k SF in mid-market San Francisco in March, reports the Silicon Valley Business Journal.
Towers@2nd, located at 75 E Santa Clara St and 4 N Second St, includes two high-rise office towers with more than 412k SF in a location convenient to main transit options. Harvest Properties acquired the buildings in June for $62M.
San Jose's downtown has seen more demand for office space this year, with vacancy dropping one percentage point from a year ago to 16.2% in Q3, according to Cushman & Wakefield reports. [SVBJ]
