News WeWork Signs Lease at Downtown Raleigh’s One Glenwood

Aug 16, 2017
WeWork Signs Lease at Downtown Raleigh’s One Glenwood

Heritage Properties, Inc., developer of downtown Raleigh’s One Glenwood project, announced today that WeWork, a shared office space provider, has leased 81,032 square feet of office space in the building, which is expected to open in early 2019. This will be Raleigh’s first WeWork location, and its second office in the Carolinas.

Trinity Partners brokers William Allen and Alex Dunn represented Heritage Properties, owner and developer of One Glenwood. Jason High and John Daly from CBRE negotiated the lease on behalf of WeWork.

“We’re honored to have an innovative, forward-thinking company like WeWork choose One Glenwood,” said Ryan Blair, Vice President of Development and Acquisitions at Heritage. “It validates the project and the intent behind our design to create a modern, amenity-rich, collaborative office building in one of the city’s most desirable neighborhoods.”

WeWork will be an anchor tenant, occupying floors three through five, and its space will include a private balcony overlooking Glenwood South.

“WeWork’s collaborative nature is an ideal fit with our vision for One Glenwood,” noted Carl Reinke, Vice President of Property Management and Leasing for Heritage. “One Glenwood is designed to foster collaboration among tenants, with amenities like our 10th floor Sky Lounge and Sky Terrace, offering multiple indoor and outdoor seating areas to host visitors, hold small or large catered events, or simply eat, socialize, and recharge. So not only will people be working within WeWork’s collaborative space, but they also have access to One Glenwood’s common areas, where they can connect with other companies while enjoying the building amenities.”

The $86-million, 10-story Class-A office building totals 227,500 square feet, including 15,000 square feet of street-level retail space. Tenants can design their offices based on their specific needs with open, efficient floorplates, and glass curtain walls allow for abundant natural light and views from every floor. The project features generous parking with its 733-space on-site parking garage, providing corporations the ability to densify their space to create a modern, cost-effective design.

“One Glenwood will transform Glenwood South and the Warehouse District,” added Blair. “We’re thrilled with the activity and interest we’ve experienced so far, and will make additional tenant announcements very soon.”

Along with One Glenwood, Heritage Properties, Inc., is finalizing a partnership to develop a 126-key hotel that is expected to be the first of its kind in downtown Raleigh. The hotel’s architecture will complement One Glenwood’s design, as well as the overall feel of the Glenwood South and Warehouse District, and will be developed and operated by a very strong developer. It’s slated to open at the same time as One Glenwood.

The One Glenwood team consists of Trinity Partners as the office leasing agent, JDavis Architects as the architect, and McAdams Engineering as the civil engineer. Whiting Turner Construction Company serves as the general contractor, CBRE handles retail leasing, and financing is provided by Citizens Bank and M&T Bank.