We Company Acquires Co-working Startup Spacious

WeWork parent the We Company has acquired Spacious, a startup which utilizes restaurants that sit empty during the day as co-working spaces. Deal terms weren’t disclosed.

“Spacious has partnered with landlords to make the most of their street-level real estate, creating a network of conveniently-located drop-in workspaces in New York City where people can walk in and get work done,” according to the We Company. The platform’s offerings range from day passes to annual memberships, providing on-demand access for users including remote workers and Fortune 500 employees.

“Spacious’s team and real estate and operational expertise will help enable WeWork to continue to give our members access to the workspace they want, when they need it,” says WeWork chief product officer Chris Hill. “We’re thrilled to welcome Spacious to WeWork.”

Preston Pesek, an entrepreneur with a CRE background, co-founded Spacious in 2016. Under Pesek’s leadership, it had raised about $9 million.

Pictured: A Spacious location that becomes the popular Upper West Side restaurant Milling Room at night.

Connect National Investment & Finance is coming to New York on Oct. 23. For more information, or to register, click here.

Connect Opportunity Zones will be presented for the first time on Oct. 23 in New York. For more information, or to register, click here.

For comments, questions or concerns, please contact Paul Bubny