In February 2016, Bridgeton acquired 995 Market Street, a 15-story multi-tenant office building located in San Francisco’s Mid-Market District. The property, consisting of over 100,000 square feet and 17 parking stalls, has three separate street frontages, offering abundant natural light. Also, the property has undergone a substantial redevelopment inclusive of base building upgrades, a seismic retrofit, and state-of-the-art tenant finishes. The property is anchored by WeWork – one of the fastest growing co-working companies in the marketplace.
WeWork, a provider of shared workspace, community, and services for entrepreneurs, was recently valued at $16 billion after its latest round of $430 million funding. The company currently has 85 locations across 28 cities around the world and more than 23,000 members. Locations include New York, San Francisco, Los Angeles, Boston, Seattle, Washington DC, London, Amsterdam, and Tel Aviv. WeWork’s asset-light business model has allowed it to become the fastest growing company by square feet. The company foresees an IPO in the next two to three years.