WeWork, IWG Closures, And Common Desk + Granite Properties

WeWork Sues Landlord in Denver

The coworking company has reportedly sued a Denver landlord over a never-opened location. According to the report, WeWork signed a lease for 86,000 square feet of space in Denver back in 2019, but the coworking space was never opened. In the lawsuit, WeWork claims that the landlord was responsible for making sure that the building was “in compliance with Legal Requirements with respect to use and occupancy of the Demised Premises for general and executive office use”. However, the coworking company found out the building was not in compliance when it applied to get a building permit to build out the space. WeWork is seeking to force the landlord to pay back rent and additional damages.

IWG Announces Workspace Closures

The Financial Times (paywall) reported this week that IWG is set to close more offices as the virus resurges. According to the report, the flexible workspace group will reserve £160 million to cover the costs of leaving behind office space. The decision, which includes closing over 100 unprofitable offices, comes as office vacancy rates have skyrocketed. However, CEO Mark Dixon noted that closures would not be immediate, but rather future closures. IWG is also negotiating with landlords to get some sort of rent relief.

Common Desk Partners with Granite Properties

Bizjournals reported this week that Granite Properties has partnered with Common Desk to offer G.O Pass, which will offer Granite tenants access to private and communal workspace. Granite tenants will be able to access Common Desk locations at a preferred price. Granite hopes its newly launched G.O. Pass will help tenants “create a hub-and-spoke workplace model, with employees spread out and working closer to home.”