WeWork is out hunting again for more office space

wework lohi

One of WeWork’s two offices is in LoHi. (Lynn Yen)

WeWork is eyeing Denver’s shiniest, newest office tower.

The shared office giant has signed a letter of intent for three floors at 1144 15th St., according to several sources close to the deal who spoke on background.

The office would be the third for the national brand, and would widen its lead as the largest coworking operator in Denver.

In August 2015, the office startup booked its first Denver location with 72,000 square feet at the Triangle Building, then snagged another 50,000 square feet at the Lab on Platte shortly afterward.  

With three floors, WeWork would occupy between 65,000 and 75,000 square feet at 1144 15th St., according to a listing of available space. Its neighbors in the office tower, which Houston-based Hines started building in June 2015, would include Optiv Security and Gates Corp.

WeWork signed a letter of intent for office space in the under-construction building at 15th and Arapahoe streets. (BusinessDen file photo)

Onsite WeWork employees said both LoHi and Union Station are more than 90 percent occupied. According its website, the company’s price per person in Denver starts at $600 for a one-person office and drops as low as $464 per month per person for a 50-seat office in LoHi.

WeWork declined a request for comment.

Coworking has gobbled up almost 1 million square feet of Denver office space: The city has about 940,000 square feet of shared office space in development or operating, by a BusinessDen tally, excluding WeWork’s newest proposal.

And new players keep landing in the Mile High City.

Chicago-based Level Office purchased a 110,000-square-foot office tower at 16th and Welton streets in June. Notwithstanding a third WeWork location, the buy put Level Office neck-and-neck with WeWork in Denver.

Los Angeles-based CTRL Collective leased 42,600 square feet in McWhinney’s Dairy Block in May – its first deal outside of the L.A. area.

Meanwhile, local developers are bringing shared office space to Denver neighborhoods previously untouched by the coworking craze. In East Wash Park, Elea Development is planting a coworking space in the heart of South Gaylord Street. And two coworking spaces are diving into Sloan’s Lake: Goosetail Spaces at 1525 Raleigh St. and NeoWork in a former church at 2232 Irving St.

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