WeWork has been relatively quiet about their association with numerous landlords across the world and how much space they lease from them. While real estate data provider CoStar Group uncovered information on specific landlords that are renting to the coworking firm, their findings were claimed to have had inaccuracies, according to WeWork. Regardless, we may have more insight into which landlords will be the most exposed to the company ahead of its initial public offering.
The majority of CoStar’s data consisted of private landlords, and it could stay that way as real estate investment trusts (REITs) stay conscious of how much space they lease to coworking companies. Boston-based real estate investment firm Beacon Capital was No. 1 on Costar’s list, and No. 2 on the top 20 landlord list WeWork provided Business Insider.
[bctt tweet=”“We’ve noticed that most REITs want to keep their coworking exposure, whether to WeWork or a peer, to under 5%,” said Danny Ismail, an office analyst at research firm Green Street Advisors.” username=”allwork_space”]
WeWork’s parent, The We Company, was No. 8 according to CoStar’s data, but did not appear on WeWork’s own list.
WeWork had 485 locations by the end of the first quarter and is showing no signs of slowing down as it fixes its focus on partnering with larger firms as well as startups and entrepreneurs.
