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IWG Pivots Plans For New Spaces Location In Atlanta

Aayat AlibyAayat Ali
May 18, 2021
in News
Reading Time: 1 min read
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IWG Pivots Plans For New Spaces Location In Atlanta

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IWG is switching up original plans for a Spaces location in Westside Atlanta, and is transforming it into a new luxury brand instead.

The 56,000 square foot office at the Star Metals District office building will now become a Signature by Regus product instead. Signature differs from Spaces in that it is a coworking operation that offers five-star hotel-like amenities.

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IWG will begin building out the space across the eighth and ninth floors once development firm Allen Morris Company completes construction on the 14-story office component this month. The entire project consists of the 267,000 square feet Star Metals office building, a 409-unit apartment complex and a pad site for a future hotel.

The deal will be completed through a joint venture, where the coworking operator signs a lease with minimum rent payments and the developer will share a percentage of the location’s revenue.

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“It originally was a straight lease and it included ground-floor [space]. A lot of the economics remain the same,” said W. Allen Morris, CEO of Allen Morris Co. “We’ve had a long relationship with Spaces and IWG in other places. And we’re working on multiple other locations with them as well.”

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Aayat Ali

Aayat Ali

Aayat is an editor for the Daily Digest based in Lexington, Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces.

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