Future of work newsletter free subscription Future of work newsletter free subscription Future of work newsletter free subscription
  • Marketplace
  • Resources
  • Business Directory
  • Events
  • Advertise
  • Brand Pulse
  • Publish a Press Release
  • Get the Newsletter
  • Contact
  • About Us
The FUTURE OF WORK® since 2003
Allwork.Space
No Result
View All Result
Subscribe
  • More
    • Columnists
      • Dr. Gleb Tsipursky – The Office Whisperer
      • Nirit Cohen – WorkFutures
      • Angela Howard – Culture Expert
      • Drew Jones – Design & Innovation
      • Jonathan Price – CRE & Flex Expert
    • Get the Newsletter
    • Events
    • Advertise With Us
    • Publish a Press Release
    • Brand PulseNew
    • Partner Portal
  • Latest News
  • Business
  • Leadership
  • Work-life
  • Career Growth
  • Tech
  • Design
  • Workforce
  • Coworking
  • CRE
  • Podcast
  • More
    • Columnists
      • Dr. Gleb Tsipursky – The Office Whisperer
      • Nirit Cohen – WorkFutures
      • Angela Howard – Culture Expert
      • Drew Jones – Design & Innovation
      • Jonathan Price – CRE & Flex Expert
    • Get the Newsletter
    • Events
    • Advertise With Us
    • Publish a Press Release
    • Brand PulseNew
    • Partner Portal
  • Latest News
  • Business
  • Leadership
  • Work-life
  • Career Growth
  • Tech
  • Design
  • Workforce
  • Coworking
  • CRE
  • Podcast
No Result
View All Result
Subscribe
Allwork.Space
No Result
View All Result
Home News

WeWork’s Continued Growth Is Not Looking Great

Aayat AlibyAayat Ali
January 8, 2020
in News
Reading Time: 2 mins read
A A
DDI

More stories for you

Could Facebook Rebrand Hurt Their Retention

Could Facebook’s Rebrand Hurt Their Retention?

4 years ago
WeWork And Cushman Mark The Beginning Of Strategic Partnership

WeWork And Cushman & Wakefield Mark The Beginning Of Strategic Partnership

4 years ago
Real Estate Platform Launches Mix-Use Residential Product

Real Estate Platform Launches Mix-Use Residential Product

4 years ago
Cutting Pay For Remote Workers Could Come Back To Bite Employers

Cutting Pay For Remote Workers Could Come Back To Bite Employers

4 years ago

Despite its recent grievances, including laying off almost 20% of its employees and having to be bailed out, WeWork is still growing.

The final quarter of 2019 saw WeWork leasing 441,000 square feet in Manhattan. By the end of 2019, it was leasing a total of 8.2 million square feet in the area. 

While last year marked a record year for WeWork as far as square footage goes, it is less likely to see as many deals in 2020. In fact, it is only expected to add just a little over 2 million square feet this year, as opposed to its 7.7 million last year.

Marcelo Claure, who was appointed executive chairman after the resignation of former CEO Adam Neumann, outlined a six-point plan to profitability back in November that included focusing on its core markets like New York and core business of office rental.

Last month, it was reported that WeWork was trying to get out of numerous leases due to its occupancy declining to 79% in the third quarter of 2019. 

The addition of new locations at the end of 2019 will likely lead them to more financial woes, especially as new spaces are less profitable than existing ones.

“If they sign a lease with 2019 rent and 2019 turns out to be the top of the market, and we have a recession in 2020 or 2021 and the rent goes down — the short-term tenants are going to have that benefit of cheaper rent,” said Paul Leonard, a managing consultant at CoStar.

Tags: daily_digest
Share5Tweet3Share1
Aayat Ali

Aayat Ali

Aayat is an editor for the Daily Digest based in Lexington, 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.

Other Stories Recommended For You

Could Facebook Rebrand Hurt Their Retention
News

Could Facebook’s Rebrand Hurt Their Retention?

byAayat Ali
4 years ago

Facebook’s announcement that it would be changing its corporate name to Meta may have an adverse impact on its retention...

Read more
WeWork And Cushman Mark The Beginning Of Strategic Partnership

WeWork And Cushman & Wakefield Mark The Beginning Of Strategic Partnership

4 years ago
Real Estate Platform Launches Mix-Use Residential Product

Real Estate Platform Launches Mix-Use Residential Product

4 years ago
Cutting Pay For Remote Workers Could Come Back To Bite Employers

Cutting Pay For Remote Workers Could Come Back To Bite Employers

4 years ago
Advertisements
Maximize Flexible Space Revenue
Advertisements
Nexudus - Tech Stack Lovers

Unlock your competitive edge in tomorrow's workplace.

Join a community of forward-thinking professionals who get exclusive access to the latest news, trends, and innovations that are shaping the future of work.

©2024 Allwork.Space News Corporation. All Rights Reserved.

Exploring the Future Of Work® since 2003.

Advertise   Newsletters   Privacy Policy   Terms Of Use   About Us   Contact   Submit a Press Release   Brand Pulse   Podcast   Events   

No Result
View All Result
  • Home
  • Latest News
  • Topics
    • Business
    • Leadership
    • Work-life
    • Workforce
    • Career Growth
    • Design
    • Tech
    • Coworking
    • Marketing
    • CRE
  • Podcast
  • Events
  • About Us
  • Solutions
    • Advertise | Media Kit
    • Publish a Press Release
    • Brand Pulse
Subscribe

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00