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Home News Coworking

Over One Year After Filing For Bankruptcy, Knotel Is Making A Comeback

Knotel has signed a seven-year lease to take up 46,000 square feet of the Wyncatcher building, a former warehouse in Miami.

Aayat AlibyAayat Ali
September 27, 2022
in Coworking
Reading Time: 1 min read
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Over One Year After Filing For Bankruptcy, Knotel Is Making A Comeback

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One of the more controversial flexible office operators in the industry is looking to make a comeback.  

Over one year after it was bought out by Newmark, Knotel will open a new location in Miami’s Wynwood neighborhood. 

With the help of developer Morabito Properties, Knotel has signed a seven-year lease to take up 46,000 square feet of the Wyncatcher building, a former warehouse. 

Last year, Knotel was brought back from the depths of bankruptcy by Newmark following massive expansion and cash burning.  

Now, the operator is looking to reemerge and redeem itself as demand for flexible offices gains traction in the post-pandemic work era. 

The building is expected to open March of 2023, almost exactly two years following Newmark’s acquisition of Knotel. 

“Flexible office space occupancy in Miami is at an all-time high, allowing newly migrated entrepreneurs and companies to enter the market and grow as needed,” said Scott Wadler, managing director at Berkadia, which helped arrange the $11 million loan to reconstruct the building.

Source: Bisnow
Tags: Coworking
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Aayat Ali

Aayat Ali

Aayat is an editor for the Daily Digest based in Lexington, Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces.

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