Homegrown co-working firm Common Desk sells to shared office space giant WeWork
by offering desks for rent in Deep Ellum, has been sold to shared office space giant WeWork Inc.
Financial details of the deal, which is expected to close in March, weren’t disclosed Tuesday. The companies said Common Desk’s 23 locations in Texas and North Carolina will be rebranded as “Common Desk, a WeWork Company.” It marks WeWork’s first acquisition as a public company. The company went public in October 2019, just after controversy erupted over former CEO and founder Adam Neumann.
Nick Clark, Common Desk’s founder and CEO, said in a statement that WeWork’s client roster will build on Common Desk’s existing member base. “With the added support from WeWork, Common Desk will be able to... leverage WeWork’s decade of experience in member services to improve the experience of our own members,” Clark said.Common Desk serves 4,000 customers in 13 cities. Nineteen of Common Desk’s locations operate under management agreements, which allow companies to run a space and collect a share of rent revenue, avoiding a long-term lease.