In The Loop: WeWork Reports Record Sales; Expansive Grows Its Portfolio; And IBM Embraces Flex Space

WeWork Reports Best Sales Since 2019

Bloomberg reported this week that WeWork sold enough desks in April and May “to record its best net desk sales since September 2019”. According to the report, this is the first time since September 2019 that the coworking company has sold more desks than it lost through cancellations across most of its regional markets. This is great news for the company, which is aiming to go public again in the third quarter of 2021 via a $9 billion merger with BowX Acquisition Corp.

Expansive Announces 6th Location in Chicago

Flexible workspace provider Expansive announced this week that it will expand its Chicago footprint. According to the release, Expansive entered into its first workspace management agreement with a building owner. The new flexible workspace location will mark the company’s 6th center in Chicago and brings the company’s Chicago footprint to approximately 350,000 square feet.

IBM to Move Toronto Workers to Flexible Workspace

HR Reporter reported this week that IBM “will be merging four Toronto-based offices into a single flexible workspace to be located in the downtown core.” According to the report, the new IBM workplace is being specifically designed to foster and increase collaboration. The workplace will include break-out-spaces, meeting areas, and private booths.