The 31,781 square-foot space has room for more than 400 members and will open in April 2020. CommonGrounds, based in Carlsbad, Calif., has eight locations across the country and is expanding after raising a $100 million Series A investment round earlier this year.
The Seattle location is surrounded by growing tech companies such as Amazon, Facebook, Google, and others.
“This type of atmosphere attracts some of the best and brightest. Our Workplace-as-a-Service platform will allow companies to be in immediate proximity to these and other enterprise companies to attract and retain talent,” Jacob Bates, CEO of CommonGrounds, said in a statement.
CommonGrounds says its workspaces are “hackable,” allowing the company to quickly reconfigure spaces. Its investors include Pacifica Enterprises; The Davidson Group; and Mohamed Alabbar, founder of Emaar, a large real estate development company in Dubai.
Rates vary by city, but at its San Jose, Calif. location, CommonGrounds charges $250 for a communal membership and $750 for an office. The company also has custom pricing for its enterprise plans.
Those prices are comparable to WeWork, which has close to 20 locations in the Seattle region and 12,500 members. WeWork, which filed IPO paperwork in April, already has one of the largest office presences in the Seattle region at 1.7 million square feet, trailing only homegrown companies such as Amazon, Microsoft and Boeing.