Office landlords were slow to adopt technology, but now are wasting no time to use it to transform every inch of their properties, including natural light let in through windows.
Even though WeWork has dominated the flex space conversation recently, the growth of technique is undeniable.
The deal is part of a larger agreement where the co-working firm will establish locations at five of the retail REIT’s US mall properties—and possibly more.
As more people are able to work from home, housing priorities have changed, and different places and types of housing have become more popular.
No one knows exactly when the recession could hit or how severe it may be. But there is no denying recent events indicate this record-long economic expansion may be reaching its conclusion.
Fuelling that growth is demand from small businesses and enterprise users alike that favour the flexibility of office accommodations on relatively short-term leases, allowing them to expand or contract their space according to the needs of their business.
Since the We Company released their S-1 investor prospectus, Wall Street pundits and the financial press have had a field day tearing the company apart.
A new report from CBRE predicts that the market for U.S. coworking space will continue to expand robustly over next decade, despite any coming recessions.
“I’ve heard no bullish views at all,” said Rett Wallace, chief executive of Triton Research, which analyzes pre-IPO companies for investors. “There were Uber bulls, there were Lyft bulls, there were Snap bulls.” He added that “WeWork is exhausting people’s cynicism.”
The way we work today is undergoing radical change, to the extent that the era we live in has been called the fourth industrial revolution.
WeWork, the leader in the globalization of coworking, revealed in the prospectus that it lost nearly $700M in the first half of 2019, and said it will likely lose more money “in the foreseeable future.”
Knotel has now completed a $400 million financing, led by Wafra, an investment arm of the Sovereign Wealth Fund of Kuwait.
Like WeWork, IWG operates furnished, serviced offices around the globe that it rents out to companies and individuals under short-term deals and is best known for its Regus brand.
The combination of opportunity zones and shared office space is creating incubators of start-ups and investors in underserved markets.
After WeWork detailed the most complete picture to date of its corporate finances last week, the leaders of some of its main competitors wanted to make a strong point: We are different.
At the cusp of WeWork's initial public offering, investors now have to decide whether the coworking industry has a long growth runway ahead, or whether the market for shared office space is reaching saturation.