In The Loop: WeWork’s Conflict Of Interest, NYC Growth, And More

WeWork investors are concerned that Adam Neumann is leasing space to WeWork, raising doubts about conflict of interest

WeWork CEO, Adam Neumann, Leases Buildings to WeWork
The Real Deal reported earlier this week that “The We Company’s CEO Adam Neumann is still personally buying buildings that are leased to the company’s coworking arm, WeWork, stoking conflict of interest concerns among some of the company’s investors.” This has given Neumann “millions in landlord payments from his own company”.

Manhattan’s Coworking Activity Grew by 200%
The Commercial Observer reported this week that coworking accounted for 18 percent of all deals in 2018 in Manhattan. Overall, coworking took up around 4.5 million square feet in the city. However, experts believe this type of growth isn’t sustainable in the long run and they expect slower growth for this 2019.

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CommonGrounds Workspace Raises $100 Million
San Diego-based flexible workspace operator, CommonGrounds Workspace, announced this week that it raised $100 million in a Series A funding round. The funds will be used to expand the company’s footprint to about 50 locations over the course of the next 2 years in California, Texas, Oregon, Utah, and Minnesota.

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