WeWork To Close 4 More D.C.-Area Coworking Spaces
WeWork plans to close four more D.C.-area coworking spaces next month after closing a trio of locations in October.
A WeWork spokesperson confirmed to Bisnow that the company decided to close locations in Crystal City, Dupont Circle, Chinatown and the H Street corridor.
The Washington Business Journal first reported the D.C. closures, and ARLnow first reported the Crystal City closure.
The company plans to move out of the spaces on Feb. 26, and it identified nearby WeWork locations for members of each space to relocate. The company decided to close the spaces in order to "streamline our portfolio toward profitable growth," the spokesperson said.
The Dupont Circle space at 1875 Connecticut Ave. NW opened in 2014, the company's third location in the District. It occupied nearly one-third of the 387K SF office building, owned by JBG Smith.
The Crystal City location at 2221 South Clark St. opened in 2016. The JBG Smith-owned building, sitting near the Amazon HQ2 campus, also contains one of the company's two WeLive co-living spaces.
The H Street corridor location at 810 Seventh St. NE opened in 2017. Insight Property Group built the three-story, 32K SF building as part of The Apollo, a 431-unit mixed-use project anchored by Whole Foods.
The Chinatown location at 777 Sixth St. NW opened in 2018. WeWork occupied the top three floors of the 11-story building, owned by Bentall Kennedy.
The company in October announced the closure of another Chinatown space at 718 Seventh St. NW, its first D.C. location. It also closed its spaces in the Wonder Bread Factory and Manhattan Laundry buildings.
WeWork has been re-evaluating its global real estate portfolio since the company's failed IPO attempt in September 2019.
The coronavirus pandemic created further challenges for the coworking industry, with many operators facing closures and bankruptcy proceedings. Local D.C. coworking provider MakeOffices earlier this month notified members the company is closing down and transferring management of the spaces to other firms.
