Coworking giant WeWork signed a lease at a development currently underway at 7272 Wisconsin Ave., securing its third location in Maryland. According to Yardi Matrix data, the contract was for 60,000 square feet of The Wilson, an office project that is already 80 percent leased. ProShares will occupy another 55,000 square feet.
Located at 7272 Wisconsin Ave., The Wilson is part of a three-tower mixed-use development that includes 295-foot-tall structures with a total of 361,000 square feet of office space and a 456-unit multifamily component, known as The Elm. Amenities at the properties are slated to include a parking garage, fitness center, bike room, conference center and private terraces. The office portion will provide access to the new Purple Line transit stop, which is part of the light rail project that’s under construction by the Maryland Transit Administration.
JLL’s Greg Lubar, Andy O’Brien and Zach Boroson acted on behalf of WeWork in the lease negotiations, while Carr Properties was represented in-house by Spencer Stouffer and Jason Bockenek as well as Transwestern’s Phillip McCarthy, Keith Foerya and Cricket Cleary.
Carr Properties began working on The Wilson in the first quarter of 2017, with the project expected to come online in summer 2020. Recently, the company broke ground on a nearby Washington, D.C., office, dubbed Signal House.
Coworking by the capital
WeWork has been gradually adding to its locations in Maryland within the last year. In August 2018, the workspace provider signed onto a location at a new development called Harbor Point at 1201 Wills St. in Baltimore, that is expected to come online next year. WeWork opened its first official Maryland outpost within the University of Maryland at 7761 Diamondback Drive last December. The coworking giant also has roughly a dozen locations in the nearby Washington, D.C., market, with more on the way.