IWG opens 58,000 s/f co-working space at 250 Park


Swiss co-working giant IWG, plc has opened its first
Signature brand offering in Manhattan at 250 Park Avenue, above  Grand Central Terminal.

The new facility offers over 58,000 s/f of workspace, including
four meeting and board rooms and over 200 workstations in a mix of private
offices and coworking spaces.

The space includes a customizable video ceiling that will
display a rotating gallery of curated works by emerging and established local
artists, and a state-of-the-art security system that will streamline
employee/guest check-in using Apple technology.

The opening of IWG’s flagship brand in New York City comes
on the heels of strong network growth for the company, with demand up 43
percent in the US in June compared with 2019, and one million new users joining
the group this year with another million committed. During the first half of
2021, IWG opened 84 locations encompassing 2.6 million square feet of space
added to its global network.

Mark Dixon, founder and CEO of IWG said: “The opening of our
first Signature location in Manhattan provides organizations of all sizes with
the prestige of a flagship address combined with the benefits and convenience
of being able to scale up and down as business needs dictate. The opening of
this latest location is a demonstration of renewed confidence in the New York
City market and will meet the growing demand for hybrid work solutions.”

A Cushman & Wakefield team of David L. Hoffman, Jr.,
Whitnee Williams and Robert L. Billingsley represented both the landlord, AEW
Capital Management, and IWG in the transaction.

“AEW and IWG are very optimistic about the sustainable
appeal of flexible office space in today’s environment,” said Hoffman. “250
Park Avenue will be a top location for IWG’s premium Signature brand.”

“We are particularly pleased to be working closely with our
long-standing partners AEW in the repositioning of 250 Park as a five-star
destination at the center of Midtown Manhattan for flexible workspaces. We
couldn’t have asked for a more fitting location for the opening of our first
Signature in Manhattan.” added Michael Berretta, Vice President Network
Development, Americas at IWG.

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