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