Dr. Gleb Tsipursky – The Office Whisperer
Nirit Cohen – WorkFutures
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Jonathan Price – CRE & Flex Expert
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WeWork is walking away from a deal to lease 146,000 square feet in Miami.
The company originally planned to occupy ten of the 57 floors at 830 Brickell, but has since reportedly pulled out of the still unfinished development.
Tadd Schwartz, a spokesman for developers OKO Group and Cain International, says the project is currently 70% leased and is expected to be completed by the end of the year.
WeWork has made strides in cutting down on excess space in recent years as it looks to remedy its reputation and continue being a key player within the coworking market.
Companies have flocked to Miami for its slightly more affordable cost of living and warm weather, driving the need for more flexible offices in the region. But despite its cheaper costs, Brickell is among the most expensive areas to rent an office in South Florida.
