In The Loop: OneEleven, Coworking In Tokyo, And WeWork

Toronto-based OneEleven launched in London, however experts are skeptical about its success in the market

Canadian Coworking Operator Goes to London
Toronto-based OneEleven recently launched its coworking space in London. Unlike some coworking spaces in the city, OneEleven will offer a la carte HR, brand and marketing, support, and sales services to members. In a recent article, TechCrunch questions this approach given that various coworking spaces in London offer these and similar services for free.

The Flexible Workspace Market is Rapidly Growing in Tokyo
A recent article by JLL stated that the amount of flexible workspace in Tokyo’s office market grew sharply last year. According to the article, flexible workspaces took up around 156,000 square meters in 2018, 48% more from the previous year. JLL expects the industry to grow 20% in  2019 and into 2020.

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WeWork Finalizes Lord & Taylor’s Flagship Building Deal
The We Company has finally closed on its purchase of the Lord & Taylor Fifth Avenue flagship building, The Real Deal reported this week. The deal was first announced in October 2017 and the transaction was originally scheduled to close in August 2018, but the coworking giant extended the deadline. To close the deal, WeWork negotiated a $900 million loan from JPMorgan Chase, Starwood Property Trust, and a third unknown lender.

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