WeWork is the dominant coworking player in Boston, comprising 3.2 percent of tenancy across the 72 million-square-foot office market. Image courtesy of WeWork

WeWork is scouting more than a dozen locations in Boston for its new “HQ by WeWork” coworking model which rents entire floors of office buildings to startups looking for flexible real estate arrangements.

The format launched last summer in San Francisco and New York, targeting businesses with 11 to 250 employees that are seeking dedicated office space. HQ by WeWork now has 30 locations with almost 1 million square feet, according to a report last month by Reuters, and will expand to other strong office markets including Boston, Los Angeles, Denver and Austin.

The New York coworking giant is focusing on class B buildings, according to research released this week by Avison Young. WeWork is in talks with landlords for floors ranging up to 6,000 square feet in various Boston submarkets, said Tucker White, senior research analyst for Avison Young. The company says it’s looking for entire floors in “unique” buildings in high-demand locations.

WeWork signs traditional leases for the space but rents the HQ by WeWork space for no upfront costs and terms as short as two years. Tenants can select from a variety of office layouts from open bullpen to rows of executive suites.

Coworking now comprises 3.2 percent of the region’s office market, with WeWork and other providers occupying 2.6 million square feet in Boston, Cambridge and Somerville, according to Avison Young.

WeWork remains the dominant industry player, occupying 1.2 million square feet at 12 locations in Greater Boston.

WeWork Scouting Boston Sites for ‘HQ’ Model

by Steve Adams time to read: 1 min
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