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WeWork Cuts Deal With Tishman Speyer To Hand Over 217K SF Coworking Space
Tishman Speyer will operate the large Long Island City coworking space with its in-house brand.
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Tishman Speyer will operate the large Long Island City coworking space with its in-house brand.
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In Manhattan, 64% of WeWork's leases are in Class-B and Class-C buildings.
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WeWork could exit more than 100 leases overall as it tries to right its financial ship.
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WeWork's bankruptcy means more turmoil for the CMBS market.
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Of the three restructured leases, WeWork entered into a revenue-sharing model with the landlord in Portland.
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WeWork has introduced WeWork Workplace, a suite of office management tools designed for companies that are heading back to the office in a hybrid capacity.
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The coworking company has saved billions as it moves through Chapter 11 bankruptcy proceedings. Can it reject even more leases?
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To date, WeWork has assumed a total of 21 leases and rejected 93 as part of its restructuring.
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Just a week before the beleaguered coworking company officially filed for bankruptcy, SoftBank paid investors $1.5B to lessen its debts.
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WeWork's plan to cut locations will save it $720M a year, the company said.
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