WeWork has walked away from its plans to open two new locations in Fulton Market in Chicago, marking the first time the firm has terminated a lease in the city.
The company purchased two leases that totaled 110,000 square feet on West Fulton Street
Prior to this decision, WeWork was one of the largest office tenants in Chicago with over 1 million square feet of space across 15 locations, but is now reevaluating its expansion strategy to become profitable under new CEO Sandeep Mathrani.
Although the company never moved into the offices, it is likely that they will have to still pay a portion of the rent while owners search for new tenants.
