{"id":1004564748,"date":"2022-01-26T03:49:50","date_gmt":"2022-01-26T11:49:50","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004564748"},"modified":"2022-12-08T10:49:59","modified_gmt":"2022-12-08T18:49:59","slug":"wework-to-acquire-common-desk","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/wework-to-acquire-common-desk\/","title":{"rendered":"WeWork to Acquire Common Desk"},"content":{"rendered":"
\"\"<\/a>

Meeting room. Image by MagicDesk via Pixabay.com<\/p><\/div>\n

Months after going public, coworking giant WeWork<\/strong> is taking another step in its strategic growth with plans to acquire Common Desk<\/strong>, a Dallas-based flexible workspace provider that operates in Texas and North Carolina.<\/p>\n

Terms of the deal were not announced but the acquisition is expected to close in March. At that time, Common Desk will operate as Common Desk, a WeWork Company<\/strong>.<\/p>\n

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READ ALSO<\/strong>: What\u2019s Ahead for Office in 2022<\/a><\/p>\n

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Founded by CEO Nick Clark in 2012, Common Desk serves 4,000 customers at 23 locations in 13 cities in Texas and North Carolina. Texas locations include multiple sites in the Dallas-Fort Worth area, as well as several in Houston and two in Austin. North Carolina sites are in Raleigh and Wilmington. Common Desk has grown through strategic management agreements with landlords that have enabled the company to perform at strong margins by minimizing capital expenditures. Within Common Desk\u2019s current portfolio, 19 of its 23 locations are operated under management agreements.<\/p>\n

Member-focused hospitality<\/h2>\n

Common Desk has become one of the country\u2019s premier boutique flex space providers and is a strong brand known for the design of its spaces and member experience. Both WeWork and Common Desk stress creating communities through member-focused hospitality.<\/p>\n

WeWork CEO Sandeep Mathrani, a commercial real estate veteran and former Brookfield Properties retail executive who took the top job at WeWork<\/a> in February 2020, said in a prepared statement Common Desk\u2019s operational expertise and first-class portfolio will further bolster WeWork\u2019s value proposition as it focuses on strategic growth. Mathrani said WeWork seeks partners that are most aligned with the coworking company\u2019s priorities and Common Desk presented itself as a sophisticated operator with a compelling approach to providing member experience without sacrificing strong margins or its product.<\/p>\n

First Acquisition<\/h2>\n

In addition to being WeWork\u2019s first acquisition since it went public in October<\/a> via a $9 billion merger with special purpose acquisition company BowX Acquisition, it\u2019s also the first purchase of a company since Mathrani became CEO. However, WeWork formed a strategic partnership with Cushman & Wakefield<\/a> which made a $150 million investment in WeWork that was announced in late October. The investment followed the announcement of an exclusive strategic partnership in August that would provide clients with best-in-class office operations by combining WeWork\u2019s proprietary hospitality and technology-enabled services with Cushman & Wakefield<\/strong>\u2019s asset and facilities management services. The initiatives were expected to help the partnership grow WeWork\u2019s landlord and tenant-focused offerings.<\/p>\n

For Common Desk, being acquired by WeWork, which has become one of the leading global providers of flexible office space since its founding in 2010, will enable it to leverage WeWork\u2019s experience in member services, Clark said in prepared remarks. With the added support of WeWork and its client roster, Common Desk will be able to improve the experience of its own members and continue to build out its member base, Clark stated.<\/p>\n","protected":false},"excerpt":{"rendered":"

The deal includes 23 locations in Texas and North Carolina.<\/p>\n","protected":false},"author":1068,"featured_media":1004547999,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21783,23891,21742,21747],"tags":[46031,42461,37716,33678],"class_list":["post-1004564748","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-investment","category-national","category-latest","category-office","tag-common-desk","tag-coworking","tag-sandeep-mathrani","tag-wework"],"acf":[],"yoast_head":"\nWeWork to Acquire Common Desk - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"WeWork is planning to acquire Common Desk, a Dallas-based flexible workspace provider that operates in Texas and North Carolina.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/wework-to-acquire-common-desk\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WeWork to Acquire Common Desk\" \/>\n<meta property=\"og:description\" content=\"WeWork is planning to acquire Common Desk, a Dallas-based flexible workspace provider that operates in Texas and North Carolina.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/wework-to-acquire-common-desk\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-26T11:49:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T18:49:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/Meeting-room.-Image-by-MagicDesk-via-Pixabay.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/wework-to-acquire-common-desk\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wework-to-acquire-common-desk\/\",\"name\":\"WeWork to Acquire Common Desk - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/wework-to-acquire-common-desk\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/wework-to-acquire-common-desk\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/Meeting-room.-Image-by-MagicDesk-via-Pixabay.jpg\",\"datePublished\":\"2022-01-26T11:49:50+00:00\",\"dateModified\":\"2022-12-08T18:49:59+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\"},\"description\":\"WeWork is planning to acquire Common Desk, a Dallas-based flexible workspace provider that operates in Texas and North Carolina.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/wework-to-acquire-common-desk\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/wework-to-acquire-common-desk\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/wework-to-acquire-common-desk\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/Meeting-room.-Image-by-MagicDesk-via-Pixabay.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/Meeting-room.-Image-by-MagicDesk-via-Pixabay.jpg\",\"width\":800,\"height\":620,\"caption\":\"Meeting room. 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