New deal with lightwell keeps WeWork in Kansas City after closing Corrigan Station space
May 7, 2024 | Startland News Staff
A freshly negotiated lease agreement with the developer behind the lightwell building in downtown Kansas City means WeWork will continue its two-floor coworking and flexible office space operation in the heart of the city’s central business district.
WeWork has officially completed its lease rationalization with the assumption of its lightwell location contract, the company said Monday, noting a successful negotiation with its landlord partner, SomeraRoad.
“WeWork has attracted a dynamic mix of the city’s most innovative startups, freelancers and creatives, and long-established Kansas City businesses to lightwell,” said Ian Holland, senior associate at SomeraRoad. “WeWork’s desire to remain at lightwell is a testament to the building’s best-in-class offerings and amenities. Alongside WeWork, we look forward to continuing to offer a best-in-market office experience at lightwell for years to come.”
Click here to learn more about WeWork’s space at lightwell.
The news follows WeWork’s confirmation in March that the coworking pioneer was closing its once-vaunted Corrigan Station location in Kansas City’s Crossroads Arts District as part of a massive company restructuring that came on the heels of a November 2023 Chapter 11 bankruptcy filing.
ICYMI: WeWork closing Corrigan Station, once a core hub for Kansas City’s startup community
WeWork expects to continue its operations in Kansas City into the future and there will be no further changes to its real estate portfolio in the market as part of its global lease restructuring, the company said.
WeWork at lightwell in downtown Kansas City; photo courtesy of WeWork
The WeWork space within lightwell’s 30-story skyscraper features sought-after lounges, rooftop deck, conference rooms and amenities — in addition to private offices and drop-in areas — all within walking distance of the Power and Light District and T-Mobile Center.
The location was developed alongside SomeraRoad’s massive renovation of the towering downtown building, debuting the coworking concept’s nearly 100,000-square-foot footprint in 2020 just as the global COVID-19 pandemic began.
“We are grateful to SomeraRoad for their collaboration and support in reaching this mutually beneficial outcome,” said Melissa Visoky, senior director of real estate at WeWork. “In this challenging macro environment, it is important to be thoughtful and creative in finding solutions that align the interests of our companies.”
“Through this new agreement, we both stand to share in anticipated future success,” she continued. “The lightwell building is a one-of-a-kind asset in Kansas City, and we are excited to continue to offer a high-quality working experience from the building.”
In addition to the new terms reached with SomeraRoad, WeWork on Monday assumed 15 other leases in the U.S. and Canada.
SomeraRoad also is making headlines in Kansas City for its extensive redevelopment project in the West Bottoms.
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