Cushman & Wakefield’s $150 million investment into WeWork marks the beginning of a strategic partnership between the two companies.
The two firms announced an exclusive partnership following WeWork going public. Together, the companies will use WeWork’s hospitality and technology services and Cushman & Wakefield’s facilities management services to provide members with a reliable office experience.
Through this new partnership, WeWork will be able to expand its landlord and tenant-centric offerings through two initiatives.
The first will help landlords and corporate occupiers refine their user experience through WeWork’s software, such as reservation systems, amenity programming, access to data, and more.
The second provides owners the chance to create new revenue streams through operating flexible offices in their portfolio. Once these tenants outgrow the flexible spaces, Cushman & Wakefield’s management teams will help them transition into traditional offices within the same building.
“Cushman & Wakefield is our strategic partner as we expand our ability to provide tenants and landlords with the technology and hospitality expertise to power flexible space solutions within their own portfolios,” said Sandeep Mathrani, CEO of WeWork. “As flexibility has become a priority for real estate decision makers around the world, we are excited to bring the WeWork product to Cushman & Wakefield’s extensive network.”
