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Tags: BUSINESS

Could The We Company be working for self-interest?

The real estate market is sensitive in that it affects virtually everything around it. For example, if just one property sells for an above market price, the rest of the market will adjust its pricing.

Because of this, a building’s brand can’t stand on its own— it’s either propped up or undermined by the neighborhoods culture.

While properties can be influenced by the image of their surroundings, they can also influence who they rent it to. WeWork is a prime example of this. Their coworking locations bring jobs to specific neighborhoods and influence the environment as a whole.

“The vast majority of WeWork members are new to a neighborhood. Across New York City, Los Angeles, and Chicago, 70%-80% of members did not work in the neighborhood prior to joining WeWork,” according to the company.

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Now, WeWork is trying to capture that same halo effect under its new name, The We Company. The rebranding includes its new initiative “Made By We” that acts as a “new town square.” It offers a central place that includes a retail space and gives members a chance to be apart of a tailored community.

The We Company’s plans inevitably drive up demand for their coworking spaces and gives them the opportunity to take advantage of the glowing after effects.

ABOUT Aayat Ali
Aayat Ali

Aayat is an editor for the Daily Digest based out of Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces. Feel free to reach out to her at [email protected] View all posts by Aayat Ali

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