WeWork, the shared office provider once valued at $47bn (£37bn), has warned it is at risk of bankruptcy as employees continue to work from home.
Office use may never reach pre-COVID levels, but landlords’ growing embrace of flex space is quickly advancing a hybrid work model that could eventually increase their property values.
A new "co-warehousing" facility in the Phoenix area will provide private warehouses to local e-commerce companies that have outgrown their home-based operations, Axios' Jessica Boehm reports.
Fitch Ratings has downgraded WeWork Cos. to CCC from CCC+, citing recent negative metrics pulling the company down, and the prospect of a weaker economy next year. Default for the coworking company is a real possibility, according to Fitch.
With every passing month, the flexible workplace becomes more prevalent, and more of a constant, for startups and enterprises alike.
WeWork said Thursday that it was going to close roughly 40 “underperforming” locations in the United States and tempered its revenue forecast for the year, highlighting the challenges the co-working company still faces after its near collapse and subsequent bailout in 2019.
JLL announced that Flex by JLL, its enterprise-grade flexible space solution, has entered into a leasing agreement with Manulife US Real Estate Investment Trust (“MUST”) for the opening of a 15,407-square-foot flex office and coworking space at 500 Plaza Dr. in Secaucus, New Jersey. This opening will mark the first official ground-up Flex by JLL space to come to market in the U.S.
Billed as a “universal platform”, WeWork Workplace allows users to manage both their privately owned or leased space and any WeWork space they use.
In its latest Flexmark report, Savills flexible office specialist Workthere confirms that 87% of UK operators are profitable, with 63% of providers reporting profit margins above 15%, which is 50% higher than the figure recorded in 2021. The report, which surveyed flexible office providers across the globe to provide a benchmark of the sector, also reveals that the number of global operators repor...
With sustainability and hybrid work high on the agenda, the world’s largest flex office provider has teamed up with a Nordic startup to fit out its spaces with reusable furniture.