In The Loop: The Flexible Workspace Industry Is Hot, News From WeWork, SparkPlus, and Knotel

The flexible workspace industry is booming with action! Check out this week’s hottest stories

WeWork is now Manhattan’s Largest Office Occupier
The Wall Street Journal reported this week that coworking giant, WeWork, “now occupies more Manhattan office space than any other company.” WeWork recently signed a 258,344 square feet at Penn Plaza, which pushed its total past the 5.2 million sq ft owned or leased by JPMorgan & Chase.

Singapore-based SparkPlus Raises US$15 Million
Earlier this week the Korean Herald reported that Seoul-based coworking operator SparkPlus raised US$17 million in a Series A round led by local investors. SparkPlus currently operates five locations and has two new locations in the pipelines, one in Gangnam and one in Yeouido. The funds will be used to power the coworking brand’s expansion, as it hopes to have 25 mid-to-large locations by 2021.

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Knotel Closes Five Leases
Real Estate Weekly reported that flexible workspace provider, Knotel, finalizes five new leases this week. Together, the five leases total 28,800 square feet in Midtown South in Manhattan, turning Knotel into the fourth largest occupier in Chelsea. According to the report, the new locations are set to open this fall.

Check out our daily digest section for more industry news!