In The Loop: Servcorp Closes 12 US Locations And WeWork Closes Its First Location

WeWork has decided to not renew the lease of its first-ever coworking space; the location will close in July.

WeWork Closes Its First-Ever Location

Bisnow reported this week that WeWork “is shutting down the location of its first-ever coworking space as the company moves to reassess its vast global footprint.” The space is located in New York City’s SoHo area and the closure will reduce WeWork’s footprint by 3,000 square feet. According to Bisnow, the ten-year lease for the space is ending and WeWork will not renew. The location will be closed in July. 

Servcorp to Halve Its US Footprint

Servcorp announced early this week that it will close 12 of its US locations. “According to reports, the Australia-based company will close its locations in Atlanta, Boston, Dallas, Los Angeles, Miami, Philadelphia, San Francisco, and Washington D.C.” Though the news comes in the midst of a pandemic, COVID-19 is not to blame for the closures. Late last year, Servcorp’s CEO stated in an interview that the US locations of the company were struggling and that the company would be forced to take drastic measures if that didn’t change in six months. 

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Storey Opens Sustainably Focused Flexible Workspace

Storey, British Land’s coworking arm, announced the launch of 6 Orsman Road, a coworking space in East London with a sustainability focus. The space spans through five floors and boasts 34,000 square feet of space. The space will also feature a cafe on the ground floor, which will be run by the Shoreditch Trust’s social enterprise training Restaurant Waterhouse. 

For more flexible workspace news, be sure to check out Allwork.Space’s Daily Digest. 

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