WeWork continues growth with lease at 101 North in downtown Phoenix

PHOENIX, March 27, 2019 – The Phoenix office of JLL has completed a lease at 101 North that will establish the first downtown Phoenix location for WeWork, an New York-based company providing shared workspaces for technology startup subculture communities and services for entrepreneurs, freelancers, startups, small businesses and large enterprises.

WeWork will lease four full floors, with the option to take additional floors, at 101 North, a Class A office tower owned and managed by ScanlanKemperBard (SKB). It becomes WeWork’s third Valley location, joining recently announced leases for the company at Camelback Esplanade in Phoenix’s Camelback Corridor and Tempe Watermark in downtown Tempe.

JLL Executive Vice President Ryan Bartos, Managing Director Andrew Medley and Associate Kyle Seeger represented WeWork in the lease negotiations. JLL Managing Director John Bonnell, Executive Vice President Brett Abramson and Senior Vice President Chris Latvaaho represented SKB as the exclusive leasing brokers for 101 North.

The 101 North building is located at 101 N. First Ave. in downtown Phoenix’s Copper Square, at the southeast corner of First Avenue and Monroe Street. It sits adjacent to two Phoenix Metro Light Rail stops and is minutes from Interstate 10, Interstate 17, Piestewa Freeway and Sky Harbor International Airport.

As Arizona’s second tallest building, 101 North totals 359,256 square feet and 31 stories of Energy Star space, with a six-level covered parking garage and sweeping views of the city and surrounding mountains. A major 2017 renovation added a shared conference room for tenant use and a modern, upgraded lobby with multiple restaurant concepts including Friends, The Monroe, Mole, Bosa Donuts and Spoonz Café.

Opening for the new WeWork location is slated for fall 2019. The company will occupy space on the building’s 8^th, 28^th, 29^th and 31^st floors, with the option to expand to additional floors.

“WeWork loved the ground floor amenity base and signage opportunities at 101 North,” said Bartos. “Thanks to recent renovations, the building also allows WeWork a quick speed to market – driven by the constantly increasing demand for coworking space – and as an added bonus has an 8^th floor deck that will allow for a centralized indoor-outdoor amenity deck for WeWork members that is unlike any other in the downtown market.”

Additional amenities at 101 North include fiber connectivity, on-site concierge and property management. It is also within walking distance of the Phoenix Convention Center, Symphony Hall, Chase Field, Talking Stick Resort Arena and Comercia Theatre, and less than four miles from Phoenix Sky Harbor International Airport. Collectively, this gives the property a 96 percent walkability score.