WeWork will occupy more than 50,000 square feet on two full floors of Redstone, in the heart of Newport Beach’s business district
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–LPC West, the West Coast arm of leading national real estate firm Lincoln Property Company, is expanding the company’s partnership with WeWork with a new long-term lease at one of Newport Beach’s preeminent commercial locations.
WeWork will occupy two full floors of Redstone, providing more than 50,000 square feet of new co-working space in the city’s vibrant commercial office district. It will be WeWork’s first Newport Beach location.
WeWork and Lincoln Property Company have an extensive, years-long relationship in markets throughout the United States. LPC West’s main offices in San Diego and Seattle are both housed in WeWork locations.
“WeWork is the unquestioned industry leader in the fast-growing coworking market, and Lincoln Property Company is proud to be deepening our relationship with this premier brand,” said Lincoln Property Company Executive Vice President Clay Duvall. “WeWork and Lincoln are both committed to quality, innovation and creativity. We look forward to continuing to grow together.”
The new coworking location is expected to open in January at Redstone, a contemporary office campus located at the intersection of MacArthur Blvd and Von Karman Ave in Newport Beach’s business district. The location provides direct access to the 73, 55 and 405 freeways as well as immediate proximity to John Wayne International Airport.
Coinciding with WeWork’s arrival, LPC West is kicking off a multimillion-dollar renovation of the property’s common areas, courtyards and outdoor workspaces. The improvements will include new amenities, the activation of tenant patios, and the addition of a new coffee shop in a repurposed bank drive-through area on the property. LPC West plans to collaborate with WeWork to activate and operate the new amenity spaces when they are completed in early 2020.
“WeWork is known for its generous amenities, creation of community space and unmistakable sense of style, which helps bring people together and creates an energetic, dynamic environment for its members,” said LPC West Executive Vice President Parke Miller. “We are excited to work with the company to infuse that spirit throughout Redstone and create a vibrant new coworking destination for Newport Beach.”
About Lincoln Property Company
Lincoln Property Company, founded in 1965 by its chairman Mack Pogue, is a privately-owned real estate firm involved in real estate investment, development, property management and leasing worldwide. Lincoln has offices in all major markets of the U.S. and throughout Europe. Lincoln’s cumulative development efforts have produced over 130 million square feet of commercial space and over 212,000 multifamily residential units. Lincoln Property Company is the second largest apartment manager in the United States. Access www.lpcwest.com for more information.