WeWork Atlanta Lands First Mercedes-Benz Development Center in U.S.

WeWork, the shared- and flexible-space giant, won the contest to land Mercedes-Benz’s first global innovation center in the United States

Mercedes-Benz prepares to establish its fourth Lab1886 international development center at WeWork in Terminus 100 at 3280 Peachtree Roadway in Atlanta’s Buckhead area. The other 3 Lab1886 locations remain in Germany (Stuttgart and Berlin) and Beijing. Throughout the grand opening of Mercedes-Benz U.S.A.’s headquarters in March in rural Sandy Springs, Atlanta Mayor Keisha Lance Bottoms hinted that the new Lab1886 area would be in the city of Atlanta.

Landing Mercedes-Benz at its Terminus location is a big win for WeWork. The co-working giant, which started by renting large areas then re-leasing them to usually smaller startups, now is working to hire large international companies with more than 1,000 staff members to its locations.

WeWork is hiring veteran brokers to lead enterprise service development in each significant region.In the Southeast, WeWork tapped RT Bowden, who left Cresa after near seven years brokering office deals. Bowden will focus entirely on recruiting large business to WeWork locations across the Southeast.” Big business now comprise the fastest-growing segment of WeWork’s member base,”a WeWork spokesperson said in an email to CoStar News. Corporate members make up more than 25 percent of WeWork’s overall membership, and 25 percent of the Fortune 500 firms are WeWork members, the WeWork spokesperson stated. These companies, such as Facebook, have the tendency to have heathier credit, lowering the risk of defaulting on expensive WeWork leases. Last month, CoStar reported that Facebook signed an offer to occupy WeWork’s single-largest place, a 450,000-square-foot mixed-use advancement in Mountain View, Calif., that borders Palo Alto and the San Francisco Bay. WeWork and co-working companies such as Areas and Serendipity Labs offer big business flexibility, specifically when the firms launch brand-new initiatives or enter brand-new cities. In January, when French car manufacturer Groupe PSA announced it picked Atlanta for its North American head office, it signed for space at WeWork’s place at 1372 Peachtree St. in Midtown, also the home of WeWork’s regional headquarters. Groupe PSA owns Peugeot, Citroen, Opel and Vauxhall. Matt Mooney, senior vice president and managing director of Atlanta for Cousins Properties, said adding Mercedes-Benz to its lineup at Terminus constructs Buckhead’s credibility as a growing tech area.”It serves as more recognition of the momentum in the Buckhead Tech Passage and the synergies Terminus enjoys with WeWork, our next-door neighbors at Atlanta Tech Town, and our existing customers like Amazon Web Solutions and CoStar,”Mooney told CoStar News. CoStar occupies 50,176 square feet at Terminus 200. In other WeWork news, the company simply worked with Lawrence Gellerstedt, who had actually functioned as leader

of the Tech Practice Group at Cushman & Wakefield

Atlanta. Gellerstedt is set to start in mid-July as director of realty for the Southeast.”Lawrence has acted as an extension of our Southeast group in the past, and we could not be more thrilled to bring him on in a main capacity this summertime,”stated Bobby Condon, basic

manager of WeWork Southeast. “His knowledge of the area and market has been very helpful as a partner and we look forward to having him as our director of Real Estate for the Southeast.”

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