It\u2019s official: WeWork now rents more office space than anyone in Manhattan\u2014including their previous competitor, JP Morgan. With 5.3 million square feet of rented space, the coworking company clearly intends to maintain its momentum, thus lending credit to the inherent value of social work environments.<\/p>\n
The sheer growth WeWork has seen in 2018 speaks to the notion that the coworking craze \u2014 perhaps surprisingly \u2014 isn\u2019t slowing down. <\/p>\n
While WeWork (and other similarly themed companies) only accounted for 3.3 percent of the new leases signed in 2017, they ate up 9.7 percent of new leases signed in the first two-thirds of 2018. Those aren\u2019t the numbers of a trend in decline.<\/p>\n
Despite some water cooler disdain toward WeWork\u2019s potentially wishy-washy work culture and some of their latest publicity stunts, investors seem to like them more than ever. In fact, word on the street is that SoftBank \u2014 a prolific WeWork investor \u2014 is considering a second investment that would value WeWork at or around 40 billion dollars.<\/p>\n
Like we said: not a sign of a declining company. <\/p>\n
WeWork\u2019s objective success isn\u2019t the star of the show here, however; it\u2019s what they\u2019ve proven through that success which matters. <\/p>\n
WeWork\u2019s ethos (that human beings need interaction with other similar human beings in order to thrive in a workplace) gets further reinforced with every lease the company signs.<\/p>\n
If small- to mid-sized companies can take away one thing from WeWork\u2019s example, it\u2019s this – many people need other people in order to do their best work. <\/p>\n
There will always be exceptions to the rule\u2014plenty of folks work alone from home and are happy to do so\u2014but the fact that freelancers living in some of the most expensive real estate in this country are willing to pay additional cash just to be around other like-minded individuals is fairly indicative.<\/p>\n
If nothing else, keep in mind the social atmosphere afforded by WeWork when designing your office spaces or nailing down your workplace culture expectations. And yes, they allow Realtors and brokers to lease space, too…<\/p>\n","protected":false},"excerpt":{"rendered":"
(REAL ESTATE) WeWork is now the biggest renter in Manhattan – what it says about the company, and perhaps an opportunity for *your* business.<\/p>\n","protected":false},"author":337375,"featured_media":13490,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"wds_primary_category":0,"footnotes":"","jetpack_post_was_ever_published":false,"_links_to":"","_links_to_target":""},"categories":[101],"tags":[1234,921],"class_list":["post-13488","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate","tag-real-estate-news","tag-wework"],"jetpack_featured_media_url":"https:\/\/theamericangenius.com\/housing\/wp-content\/uploads\/sites\/2\/2018\/10\/wework-manhattan.jpg","jetpack_sharing_enabled":true,"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/13488","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/users\/337375"}],"replies":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/comments?post=13488"}],"version-history":[{"count":1,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/13488\/revisions"}],"predecessor-version":[{"id":13489,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/13488\/revisions\/13489"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/media\/13490"}],"wp:attachment":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/media?parent=13488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/categories?post=13488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/tags?post=13488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}