Town Square Las Vegas has landed two high-profile office tenants.
Moonwater Capital founder Ofir Hagay, who owns office space there, confirmed that Amazon leased space from him at the 100-acre complex south of the Strip. He also said office-sharing firm WeWork rented space from him in a separate building.
The leases bring tenants to offices that had sat dormant at Town Square since the retail-focused project opened a dozen years ago at the corner of Las Vegas Boulevard and Sunset Road, and that a former landlord flipped for a quick profit to Hagay.
Amazon, which recently moved in, took the second floor of the building at 6551 Las Vegas Blvd. South, leasing 31,105 square feet, according to Moonwater. Hagay said the online retail giant has human resources and training operations there.
Seattle-based Amazon operates several distribution centers in the valley and is expected to open another in Henderson, right near the Raiders’ new practice facility.
Spokesperson Zeshan Kazmi said in an email Tuesday of the Town Square lease: “At this time, I cannot provide a comment on behalf of Amazon.”
Meanwhile, WeWork leased 102,276 square feet, taking the second and third floors of the building at 6543 Las Vegas Blvd. South, according to Moonwater. The space will be delivered to WeWork by year’s end, Hagay said.
WeWork advertises space at Town Square on its website, saying the property, near Las Vegas’ famed tourist-choked casino corridor and McCarran International Airport, is opening soon and “especially convenient when clients visit from out of town.”
“After work, treat colleagues to cocktails on Las Vegas Boulevard, or head to the nearby golf center or flying trapeze facility for some team-building fun,” the site says.
WeWork spokeswoman Ingrid Thorlaksson declined to comment Monday on the Town Square outpost, citing the company’s “quiet period” ahead of an expected initial public offering.
WeWork’s parent, The We Co., put its stock market debut on the backburner Tuesday, struggling to drum up investor enthusiasm for a fast-growing enterprise that spread trendy communal office spaces across the globe while piling up massive losses.
Last year, the company booked more than $1.8 billion in revenue but posted a net loss of more than $1.9 billion, according to a filing with the Securities and Exchange Commission.
The company, which dropped plans to begin a “road show” this week to market shares for an IPO that had been widely expected this month, said it expects to complete the stock offering by year’s end.
Hagay acquired Amazon’s and WeWork’s office space in August 2018 for about $22 million from Dornin Investment Group. Dornin had purchased the unfinished space in January 2018 for about $11.8 million. At the time, the offices were empty and cavernous inside, lacking divider walls, hallways and subdivided suites.