Coworking

Flexo began servicing Mumbai coworking spaces before deciding to expand across the country, with the company in talks to grow over the next six to twelve months.

The operator has signed a 15-year lease with Gordon Property Group to open a new 13,815 square foot location at 860 Broadway.

Last year, GSA signed a contract with WeWork and other coworking operators to give employees a place of professional solace during the pandemic.

Convene will open its first location in San Francisco with a 65,000 square foot space in an eight-story building located in the city’s Union Square neighborhood.

The company announced that it has signed a 43,738 square foot deal in Downtown Fort Lauderdale, as well as a 30,376 square foot space in Aventura, just outside of Miami.

Saltbox unveiled a new 128,000 square foot location in Carrollton, marking its second location in the Dallas-Fort Worth area and its eighth in the U.S.

Sixty-three percent of businesses also said they would cut down their office footprint by 20% to 50%, while just 8% planned to seek larger spaces.

Although WeWork’s closures are expected to cut down its top-line revenue, the company claims that the decrease in expenses would add $140 million in annual adjusted EBITDA.

Remote workers are increasingly leaving the confines of their home — but that doesn’t mean they’re returning to the office.

Through this new offering, WeWork will provide members with access to more private executive suites and a branded environment, while still offering lease flexibility.