By: Ismael Rodriguez

After two years of waiting, WeWork has finally announced it will open its downtown Miami location on Dec. 1.

The New York-based, co-working firm, which is currently valued at $20 billion, will open on the first of December at the Security Building, a 15-story building sitting at 117 Northeast First Avenue, according to what the firm’s spokesperson told the press.

WeWork had signed a 15-year lease for the building two years ago, marking the fourth Miami area location for WeWork, with two in Miami Beach and one at Brickell City Centre.

The Security Building location, which amasses nearly 97,000 square feet, will have room for more than 1,200 WeWork members, including private offices, 17 nooks, 28 meeting rooms, 20 lounges, phone booths and event space— other features include community bars, pantries, coffee and snacks.

Ricky Weisfisch, Daniel Gohari, Rory Greenberg and Andrew Joblon acquired the property for $25 million in 2015. The building, known as the Capital Lofts building, was built in 1926 and deemed historic by the U.S. National Register of Historic Places in 1989.

Adam Wacenske, general manager for WeWork’s southern region, told the press that the Security Building is one of the company’s “more unique” locations.

The redevelopment has been ongoing for eight months now, led by WeWork’s in-house design team. Some of the renovations include the conversion of the first and mezzanine floors into event space. Robert Greenfield, a New York-based architect, was in charge of the building’s design.

“We were definitely exploring different options but with the resurgence of downtown Miami, we think this is a perfect space for WeWork,” Wacenske told the press.