WeWork discusses space on NYC's 1 World Trade Center – Business News

TORONTO: WeWork Cos is talking to rent space at 1 World Trade Center, according to a person with knowledge of the discussions.

The move puts the co-working giant on a path to become Manhattan's largest office tenant.

The company is negotiating approximately 18,600 m² in the skyscraper of Lower Manhattan, according to the person who asked not to be identified because the case is private.

If the deal continues, WeWork would exceed JPMorgan Chase & Co. as the company with the largest amount of office space in Manhattan.

Brokerage Cushman & Wakefield now puts the co-working company at number 2, with 5.14 million square feet of offices, compared to the 5.2 million square feet of the bank.

The building, which opened in 2014, is the highest office tower in the Western Hemisphere. A spokesman for his developer, the Port Authority of New York and New Jersey, declined to comment.

Representatives of WeWork and the Durst organization, which manages, operates and leases the property, also refused to comment.

The co-working business of WeWork has grown rapidly over the whole world over the past eight years as the company imports more and more tenants at its locations for rental offices.

This has contributed to WeWork's revenue increasing by 110% in the first quarter from one year earlier to US $ 342 million, and with strong investments from SoftBank Group Corp, WeWork also has the money it needs to boost its expansion .

A top man at SoftBank said in June that WeWork is trying to raise money against a valuation of US $ 35 billion.

The office exchange company had about 200 locations in the US at the end of the second quarter, according to Cushman & Wakefield.

Crain & # 39; s New York Business reported earlier Wednesday that WeWork had almost finished completing a major lease at 1 World Trade Center. – Bloomberg

Source link

Leave a Reply