Coworking company is seeing ‘noticeable increase in demand’ at the location in Plano

WeWork, a flexible workspace provider with more than 600 locations globally, is doubling down on one of its North Texas locations — signing its first deal in the region since 2019.

The New York City-based operator signed a lease for nearly 27,000 square feet of office space to expand its presence at 6900 N. Dallas Parkway in Plano, Texas, a northern suburb roughly 20 miles from downtown Dallas. In all, WeWork now leases a total of 53,776 square feet spanning two floors of office space at the building.

The expansion comes as WeWork has seen “exceptional demand in the area” in recent quarters, with the number of people “at our Dallas-Fort Worth locations increasing nearly 25% since the start of the year,” said Kali Ziegler, vice president and head of leasing for WeWork in the U.S. central and west.

“Expanding in this market was a natural next step as we continue meeting our members where they want to be,” Ziegler told CoStar News.

Ziegler said WeWork is seeing a “noticeable increase in demand” from potential members at the Plano location from financial services firms and technology companies.

“Our strategic, sustainable growth is guided by member demand, which is why we chose to expand in North Texas at this time,” she said. “Over the past year, we have continued to add locations in response to return-to-office trends, including three locations in New York and an expansion in Toronto, while enhancing the member experience and expanding our offerings with products like our new WeWork Go private office pods.”

WeWork’s expanded space at the Plano building in Legacy Town Center is expected to open this summer. The building is owned by KBS. Terms of the deal were not disclosed.

KBS Senior Vice President and Co-Director of Investment Management Brett Merz told CoStar News the expansion of WeWork onto an adjacent floor helps maintain optionality within the building for its existing tenants as their needs evolve.

“Expansions like this drive stability and long-term value at the property,” Merz said, adding that from an ownership perspective, a flexible workspace component enhances the overall leasing ecosystem within a building.

“Companies are looking for solutions that allow them to scale and adapt, and operators like WeWork help meet that demand in a way that complements more traditional tenancy,” Merz said.

Story first published in CoStar