Following the news the highly effective coronavirus vaccines would begin to be rolled out in Britain, the stock market surged on a wave of optimism and the hope a return to normal, and by extension, the workplace, was within our grasp. Alongside the roadmap out of lockdown, we can now see a light at the end of the tunnel.
This story first ran on BusinessDen.com, a BizWest news partner. One of the four Denver WeWork locations that the company closed at the end of February is being marketed for lease. Cushman & Wakefield has the listing for the top two floors - about 50,000 square feet - in The Lab building at 2420 17th St.
Good morning. Here are Five Things for Wednesday. Portland grocery chain New Seasons is opening new locations in two outlying cities. The company said Tuesday it was adding new stores in Lake Oswego and Vancouver, and it also announced the departure of its CEO Forrest Hoffmaster. WeWork's Portland presence appears to be shrinking.
Few fortunes are as volatile as Masayoshi Son's. The SoftBank Group Corp. founder was briefly richer than Bill Gates at the start of the century before tech stocks crashed. In March 2020, as markets sank under Covid-19 and questions swirled over SoftBank's investments, his wealth dipped to $8.4 billion, the lowest since 2016.
Just south of Times Square, the 740,000-square-foot office building at 1440 Broadway was one of the last properties to be sold off as part of New York REIT's liquidation. In 2017, the property was sold for $520 million to CIM Group, which manages the building, and Australian pension fund QSuper, which has a majority stake.
Two Portland WeWork locations, at the U.S. Custom House and Pioneer Place, have disappeared from the coworking firm's website. The first comes as little surprise. Company correspondence from earlier this year showed WeWork had decided to leave the Custom House and pointed to "Portland building closures."
The firm has also rolled out an option where employees can work from home for five days due to pet adoption. Additionally, to support employees during difficult times of personal loss, the bereavement leave has been extended to 10 days and this extends to pets as well.
The battle between WeWork and SoftBank is over. The beleaguered co-working giant and its co-founder and former CEO, Adam Neumann, have reached a legal settlement with SoftBank Group, Bloomberg News reported, heading off a trial that was set to begin on March 4.
This story first ran on BusinessDen.com, a BizWest news partner. WeWork's jilted Denargo Market landlord is chasing the collateral. The owner of the 86,000-square-foot building at 2323 Delgany St. last week sued Westchester Fire Insurance Co., the Pennsylvania-based company that issued the surety bond when WeWork leased the property in 2019.
WeWork is expanding its on-demand program in a few markets, including Nashville. In an interview with the NBJ, the company shares its newest products, how Covid-19 is influencing offices and advice for businesses that are pivoting to a flexible workspaces.
When the pandemic sent everyone home to work in their PJs, corporate offices became ghost towns and co-working spaces struggled to survive. Now, co-working spaces are reemerging as "flex" workspaces offering the antidote for several Covid ills: WFH (working from home) fatigue, fluctuating personnel numbers and hesitancy to commit to long-term leases or infrastructure investment.
Flexible office space provider WeWork closed one of its New York locations in a continued effort to decrease its real estate footprint, Bisnow reports. The company shut down its 86,000 square foot space at 25 Broadway as it looks to increase profitability through shrinking its national portfolio.
For first-year student Brandon Wu (SFS '24), who lives in the suburbs of Houston, finding a space for schoolwork has not been easy, especially as winter storms rolling across Texas have eliminated the option of working outdoors. "For me, my county shut down all public libraries.
Office politics are hotting up. Some managers are pushing staff to return; others are committing to remote working forever; delirious finance directors are slashing property bills by amounts they could only dream of pre-pandemic.
Edited by: TJVNews.com Seems like WeWork's Adam Neumann will be taking a significant salary cut. According to reports that are circulating the WeWork co-founder is discussing a settlement with SoftBank that would cut his payout from the Japanese investment giant roughly in half. The Israeli-American billionaire and the office sharing giant WeWork were so miffed ...
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Just two years ago, coworking was the fastest-growing sector in the D.C. office market, with providers like WeWork leasing large blocks of space and serving as a primary demand driver for the otherwise-stagnant market. That dynamic has now flipped. Flexible workspace providers have given back hundreds of thousands of square feet of space during the pandemic, further weakening a D.C.
BELLEVUE, Wash.--()--ExtraSlice ( www.extraslice.com), a corporate real estate (CRE), technology and flexible workspace platform, today posted a recently held roundtable discussion featuring leadership perspectives from a half-dozen prominent Seattle-area CRE firms, including Hughes Marino, Savills, Broderick Group, SECO, CoStar, WeWork, and the hosts from ExtraSlice.
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WeWork co-founder and former CEO Adam Neumann is set to reap an extra $50 million windfall and other benefits as part of an agreement to settle a bitter dispute he and other early WeWork investors have waged with SoftBank, according to people familiar with the matter.