One of the nation’s largest coworking providers inked a deal for more than 20,000 square feet of space near John Wayne Airport in Irvine.
Irvine-based Premier Workspaces signed a 10-year lease for about 20,130 square feet at Irvine Towers, taking up space at one of the complex’s five buildings at 18200 Von Karman Avenue, the Orange County Business Journal reported. The coworking provider plans to move into the space early next year.
Premier’s deal at Irvine Towers marks its 23rd location in Orange County, according to the Business Journal. The firm was attracted to the office campus because of “the opportunity to create a substantial new location in a market where [it has] operated successfully for many years,” Premier’s Michael Pollack said.
Premier plans to open more than 80 furnished
Premier plans to open more than 80 furnished private offices, meeting rooms and virtual office services at the site. The latest deal follows Premier’s opening of a 23,800-square-foot coworking facility at Lincoln Property Company’s Redstone office campus in Newport Beach. That space was formerly occupied by fellow coworking provider WeWork, which shrank its footprint across Southern California and nationwide following its bankruptcy in 2023. Premier operates nearly 90 locations across the country.
Last year, the Los Angeles region added 1.4 million square feet of coworking offices to its inventory — 16 percent more than in 2024,according to a WeWork study earlier this year. The L.A. area has the nation’s second largest coworking market with 10.3 million square feet across 457 locations, second only to New York, with nearly 20 million square feet across 753 sites.
The increasing need for coworking space comes as more companies reevaluate their real estate strategies in the post-pandemic years after office-heavy areas like downtown Los Angeles were hollowed out by the spread of remote work. In Orange County, where Premier Workspaces is opening its next space, direct vacancy for traditional offices was 11.5 percent in the third quarter, down from 12.3 percent a year prior but unchanged from the prior three-month period.
