Landlords vs Coworking: Who’s At Risk?
At Bisnow’s Boston Office of the Future event earlier this week, Charlie Leatherbee–Skanska USA Executive VP and Regional Manager, said that when the market softens, which is highly likely to happen eventually, “WeWork is going to be hit first.” On the other hand, flexible workspace operators participating in the event believed that the coworking model won’t be hit too hard even during a recession–citing Regus’ 6% drop in the last recession.
Knotel Expands Its NYC Footprint
Real Estate Weekly reported this week that Knotel has added 90,000 square feet of flexible workspace to its New York City footprint. According to the report, Knotel “ leased 43,000 s/f comprising two full and one partial floor at 156 Fifth Avenue in the Flatiron District, and 40,050 s/f on three entire floors at 105 Madison Avenue in NoMad.”
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International Workplace Group To Double Footprint In India
The Hindu BusinessLine reported this week that Regus’ holding company, International Workplace Group (IWG) “plans to double its footprint to over 200 workspace centres in the next three years.” Harsh Lambah, Country Manager of Regus and Spaces, told BusinessLine that IWG also plans to “bring in new brands to India.”