AQUILA was approached by our client, WeWork, an international coworking company that already had two centers in Austin: downtown at 6th and Congress and at University Park just east of The University of Texas. WeWork was looking to grow its reach beyond Central Austin and needed AQUILA’s help selecting the site for its next location.
WeWork primarily targets the millennial customer, who is attracted to highly walkable areas with abundant amenities and the specific coolness that is typically associated with urban core areas.
AQUILA recommended The Domain due to existing demand for and lack of creative tech spaces in the northwest submarket. It’s often difficult for small start-ups to find space in the northwest submarket, since many of the buildings lack a creative feel, offer limited walkable amenities and many landlords in that asset class tend to prefer larger leases with longer terms.
The Domain’s third phase, specifically the Rock Rose retail and restaurant strip, created an ideal environment to compliment WeWork’s business model, brand and target market.
Once The Domain was identified as the target market by WeWork’s local representatives, our team provided numerous maps, market studies, demographic and socioeconomic analysis deliverables to the regional and national decision makers to prove the viability of a WeWork Domain location.
This is WeWork’s third Austin location and has already significantly out-performed the client’s initial expectation.
This WeWork Domain location, with its easy access to Mopac, 183 and 360 as well as proximity to thousands of new apartment units, has enabled many small to mid-size companies to office closer to their homes in northwest Austin, minimizing traffic and congestion across town while offering the vibrant amenity rich environment of a downtown office that appeals to the millennial workforce.