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WeWork Hires JLL and Newmark Knight Frank To Renegotiate Leases

WeWork has hired JLL and Newmark Knight Frank to help turn some of its leases into profit-sharing agreements and negotiate rent relief.

The Wall Street Journal reported that WeWork has stopped paying rent at certain locations in the US for April, although some of the company’s landlords claimed to have been paid, while others haven’t.

Before the coronavirus pandemic, the coworking firm was working to lower its rent costs and transition to management lease agreements in order to alleviate its immense real estate expenses.

WeWork has kept its offices in the US open in the midst of the health crisis, but many tenants have opted to work from more and abide by the CDC’s guidelines of social distancing. 

ABOUT Aayat Ali
Aayat Ali

Aayat is an editor for the Daily Digest based out of 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. Feel free to reach out to her at [email protected] View all posts by Aayat Ali

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