Dallas native Nick Clark launced Common Desk, a coworking startup, in 2012 with the goal of providing an alternative to cubical workspaces. Now, this local company is being acquired by industry giant WeWork.
Common Desk got its start in Deep Ellum and has since grown to 23 locations in Texas and North Carolina, with several locations in the DFW metro, including Addison, Fort Worth, McKinney and Oak Cliff, to name a few. Each location features multiple cozy coworking spaces from shared desks to private offices and space for large teams that are rented via monthly or by-the-day memberships. The company also offers event space rentals and various amenities like high-speed WiFi and bottomless craft coffee.
According to a press release from WeWork, the New York-based real estate giant will acquire all 23 Common Desk locations pending closing conditions that are expected to be finalized in March. Under the new ownership, former Common Desk locations will be rebranded as “Common Desk, a WeWork Company.”
Terms of the acquisition were not made publicly available. The deal is expected to close in March.
“Common Desk presented itself as a sophisticated operator with a compelling approach to providing a top notch member experience without sacrificing strong margins or an exceptional product,” WeWork CEO Sandeep Mathrani said in a prepared statement. “On the heels of a strong year for our business, Common Desk’s operational expertise and portfolio of first-class space will further bolster our value proposition as we focus on strategic growth.”
A key point stated in the acquisition is both companies’ commitment to using its space to foster communities of freelancers and other professionals and is something that both WeWork and Common Desk will continue to focus on going forward. In fact, the McKinney Common Desk location recently become the headquarters of Review Wave, a SaaS company that recently relocated from California.
“Similar to WeWork, Common Desk is a company built on the concept of bringing people together to have their best day at work,” Clark, CEO of Common Desk, said in a prepared statement.