Last year, property company Tishman Speyer announced it would be launching its own brand of coworking spaces, Studio, across the U.S. This week, the company rolled out its coworking concept in Los Angeles and Boston. The company also plans to roll out the coworking concept in Chicago, Washington D.C., New York City, Rio de Janeiro, and London.
The Real Deal reported earlier this week that New York-based coworking brand, The Yad, held discussions with the Office Group and Knotel regarding a potential sale. However, sources claim that nothing came from the discussions, which is why the company is now “working with investment-banking firm Houlihan Lokey to raise growth equity”.
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Keeping with industry trends, WeWork announced this week that it has partnered with RXR to manage a 9,000 square feet coworking space in Rockefeller Plaza. According to reports, this is the first deal of its kind that WeWork signs in New York City. The companies will reportedly split the costs of renovation and share the space’s revenue.