{"id":3000074301,"date":"2024-04-22T14:18:05","date_gmt":"2024-04-22T18:18:05","guid":{"rendered":"https:\/\/www.wework.com\/ideas\/?post_type=news&p=3000074301"},"modified":"2024-08-22T05:21:20","modified_gmt":"2024-08-22T09:21:20","slug":"wework-solidifies-five-lease-assumptions-throughout-the-united-states","status":"publish","type":"news","link":"https:\/\/www.wework.com\/ideas\/newsroom-landing-page\/wework-solidifies-five-lease-assumptions-throughout-the-united-states","title":{"rendered":"WeWork Solidifies Five Lease Assumptions throughout the United States"},"content":{"rendered":"\n

<\/p>\n\n\n\n

New York, NY – April 22, 2024 – Today, WeWork, a leading global flexible space provider, announced five new lease assumptions throughout the United States. These assumptions, which are subject to court approval, affirm the Company\u2019s progress as it nears the final stages of its strategic restructuring. <\/p>\n\n\n\n

WeWork has worked constructively with its landlords to reach new, mutually-beneficial terms at all of the buildings being assumed today, including 77 Sands Street<\/a> in New York City (Announcement<\/a>), 1448 Northwest Market Street<\/a> in Seattle, 448 North LaSalle Street<\/a> in Chicago, 600 California Street<\/a> in San Francisco and 2201 Broadway<\/a> in Oakland.<\/p>\n\n\n\n

\u201cToday\u2019s assumptions highlight our commitment to maintaining a strong presence in economic hubs across the country,\u201d said Peter Greenspan, Global Head of Real Estate at WeWork. \u201cAt WeWork, providing members with modern workspaces to enable their best work is our top priority. We appreciate our landlords\u2019 commitment to reaching constructive solutions and together, we have a clear picture of WeWork\u2019s next chapter.\u201d<\/p>\n\n\n\n

Thus far, WeWork has reduced its total future rent commitments by over $8 billion<\/a>, or more than 40%*, and has reached a path forward at 90% of its buildings globally. These efforts support the Company\u2019s objective of creating a sustainable and profitable business designed for a successful future.\u00a0<\/p>\n\n\n\n

Learn more about today\u2019s lease assumptions.<\/a><\/p>\n\n\n\n

STATEMENTS REGARDING LEASE ASSUMPTIONS <\/strong><\/p>\n\n\n\n

1448 Northwest Market Street:<\/em><\/p>\n\n\n\n

\u201cFor years, WeWork has created a dynamic office environment within the 15th and Market building. We are pleased to have reached an agreement with WeWork in order to continue our long-standing and collaborative partnership into the future. As Seattle workers come back to the office, we look forward to this next chapter with WeWork and jointly creating exceptional office offerings for Seattle\u2019s best businesses,\u201d said Peter Parker, President and COO of Martin Selig Real Estate.<\/p>\n\n\n\n

\u201c1448 NW Market Street is one of our most popular Seattle locations known by our members for its high quality experience and proximity to a vibrant restaurant and retail ecosystem. As our sole location in Ballard, it has recently seen an increase in demand from hybrid workers who are looking for workplaces closer to their homes,\u201d said Peter Greenspan, Global Head of Real Estate at WeWork. \u201cWe are grateful for Martin Selig Real Estate\u2019s collaboration on this new agreement, and we are excited to continue providing our Seattle members with best-in-class workspaces and solutions at this location.\u201d<\/p>\n\n\n\n

About WeWork<\/strong><\/p>\n\n\n\n

WeWork was founded in 2010 with the vision to create environments where people and companies come together and do their best work. Since then, we\u2019ve become a leading global flexible space provider committed to delivering technology-driven turnkey solutions, flexible spaces, and community experiences. For more information about WeWork, please visit us at wework.com<\/a>.<\/p>\n\n\n\n

*Estimated based on a combination of executed agreements, exits and agreements in principle across wholly-owned portfolio.<\/p>\n","protected":false},"author":883,"featured_media":3000074303,"parent":0,"template":"","meta":{"_acf_changed":false,"footnotes":""},"news_tag":[43924],"class_list":["post-3000074301","news","type-news","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"\nWeWork Solidifies Five Lease Assumptions throughout the United States - WeWork Newsroom<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wework.com\/ideas\/newsroom-landing-page\/wework-solidifies-five-lease-assumptions-throughout-the-united-states\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WeWork Solidifies Five Lease Assumptions throughout the United States\" \/>\n<meta property=\"og:description\" content=\"New York, NY – April 22, 2024 – Today, WeWork, a leading global flexible space provider, announced five new lease assumptions throughout the United States. 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