WeWork Moves To Take On Office Giants Like JLL And CBRE
WeWork’s new business, which it is calling Onsite Solutions, offers to create personalized co-working centers for large corporations, putting the startup into direct competition with industry giants like CBRE and JLL.
These office spaces could cater to hundreds or even thousands of employees, and WeWork is confident it can provide space at a lower cost with better results than traditional firms, the Wall Street Journal reports.
Experts said many of these large centers will resemble typical WeWork offices, and use games, beer and coffee stations and events to get employees to interact with each other. The test case could already be in motion; WeWork signed IBM to a full-building deal in Manhattan last week.
Executives at traditional real estate companies largely said they do not consider WeWork a real threat, and said WeWork offers a small range of workplace designs that are unlikely to appeal to everyone. While that may be, experts said it is still too early to tell how much impact WeWork’s expansion into corporate office space will have.