One multinational tech giant is taking up 80% of the space in WeWork’s new 80,000-sq-ft office in downtown Vancouver.
Amazon has leased the vast majority of the New York-based co-working company’s location within the Bentall III office building for a two-year term, according to a report by the Financial Post.
The electronic commerce and cloud computing company apparently wanted all of the co-working space in the Burrard Station location, but WeWork was unwilling as it wanted to ensure there was space for other businesses to allow for diversity.
This first WeWork location is scheduled to open this fall.
In response to the demand, as Amazon has taken up most of its first Vancouver co-working space and Vancouver’s office vacancies are exceeding low, WeWork is expanding even further in the city and will open a 53,000-sq-ft co-working in the office building complex at Bentall II.
Daily Hive reached out to representatives with WeWork and Amazon, but they were unable to comment on these developments in time for publication.
Amazon’s WeWork space is meant to be a temporary working space for its growing workforce in Vancouver as it is aggressively expanding.
Industry sources tell Daily Hive that Amazon is the tenant of a 147,000-sq-ft new tech office building being built by Oxford Properties Group at the southwest corner of Dunsmuir and Homer streets – across from Holy Rosary Cathedral.
It is also the potential tenant of Westbank’s proposed 24-storey, 367,000 sq. ft. office tower at the northwest corner of West Georgia and Homer streets, the site of Budget Car & Rental, which is being designed for tech companies.
Two years ago, Amazon opened a 91,000 sq. ft. office for up to 1,000 employees in the TELUS Garden office tower.
With the three buildings in close proximity combined, they could form a miniature satellite Amazon campus employing several thousand people.
Of course, Vancouver is also bidding to be the home of Amazon’s second headquarters, which will employ 50,000 people within a new $5-billion, eight-million sq. ft. office complex.