Your Account

*UPDATE: WeWork Costa Mesa Opens Tuesday

The torrid trend of co-working shows no signs of abating anytime soon. Capitalizing on this momentum, WeWork, with HQ in NYC, is opening its second OC co-working space Tuesday, this one in Costa Mesa.

It follows in the footsteps of WeWork’s first OC outpost, at 200 Spectrum Center in Irvine, which opened in 2016. Both properties are owned by the Irvine Company.

Co-working has gained increasing popularity among entrepreneurs and small businesses in terms of being a shared space with individual desks or offices. Amenities are plentiful and include at WeWork high-speed internet, daily office cleaning, IT support, 24/7 building access and office supplies, as well as access to its global community of members –  230,000 and counting.

The Costa Mesa location is at 3200 Park Center Drive  in the Pacific Arts Plaza office campus. WeWork will occupy two floors, totaling about 40,000 square feet.

It will feature “signature mid-century modern decor, open floor plan, panoramic views, glass and steel framing, communal working space and (a) kitchen,” said Kim Herzog, WeWork community director – Southwest. “Unique to this location, WeWork Costa Mesa has an exposed internal staircase connecting the two floors, custom artwork and a mural.”

It can accommodate 700 individuals who purchase various tiers of memberships. See here for membership and pricing for the Costa Mesa location.

WeWork is a global tour de force. It has more than 240 locations in over 71 cities and 21 countries. Adam Neumann and Miguel McKelvey founded the company was founded in 2010.

It has positioned itself as a tech company rather than a real estate company. That strategy has paid off handsomely as it received a $4.4 billion investment last year from SoftBank Group, a Japanese multinational conglomerate holding company with HQ in Tokyo. The group invested through its $93 billion Vision Fund.

The fund anticipates paradigm shifts in technology and emerging businesses to take advantage of the next era, according to its website.

Softbank believes that the “singularity,” the point at which artificial intelligence exceeds human intelligence, will arrive during this century, “triggering the greatest paradigm shift in human history,” according to its website.

“The arrival of the Singularity will redefine every industry, and is expected to greatly expand existing business opportunities and to create new ones,” according to SoftBank.

 

About The Author

Deirdre Newman is a long-time journalist, who's covered OC startups for a few years.

Post a Comment

You don't have permission to register