WeWork Inc.
04/30/2024 | Press release | Distributed by Public on 04/30/2024 08:20
WeWork Strikes New Agreements and Assumes Nine Buildings
New York, NY - April 30, 2024 - Today, WeWork, the leading global flexible space provider, announced the assumption of nine leases in New York, California, Texas, Washington and British Columbia. These assumptions, which are subject to court approval, bring the Company closer to achieving a strengthened real estate portfolio that creates long-term value for its business, landlords and members.
WeWork will be assuming its amended lease agreements at 379 West Broadway in Manhattan, 195 Montague Street in Brooklyn, Park Tower in Costa Mesa, The Hubb in Long Beach, 1 Belvedere Place in Mill Valley, Clearfork in Fort Worth, Sunset North in Bellevue and 1099 Stewart Street in Seattle. WeWork will also be assuming its lease at Bentall II in Vancouver under the existing terms.
Earlier this month, WeWork announced it had determined a final path forward at over 90% of its global real estate portfolio and eliminated over $8 billion in future rent commitments.*