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IWG Leases Four Floors at Historic Fine Arts Building
Newmark has announced flex office provider IWG has signed a 38,000-square-foot lease for its Spaces brand at the iconic Fine Arts building in downtown Los Angeles. The transaction highlights the ongoing trend of companies securing historically significant low-rise office buildings.
Located at the crossroads of 7th and Flower Streets, the Fine Arts building comprises 116,000 square feet on 12 floors, the top 4 of which will now be home to IWG. The space was formerly occupied by WeWork, and interestingly, this is IWG’s second LA transaction this year involving a former WeWork location.
Newmark’s Managing Director Gibran Begum represented the owner, Manchester Capital Management in the transaction. “As a premiere flex office provider, IWG’s Spaces brand was a natural fit for the Fine Arts Building, which has provided tenants some of the finest collaborative creative space in Downtown,” said Begum in a news release.
- ◦Lease
