Re:The Property Industry Is Falling Out of Love with WeWork
by dsr_ on Wednesday December 19, 2018 @10:05PM
(#18722185)
Which sets them up for WeWork subsidiaries to default on any building that's more than X months old and unprofitable. That's a terrible deal for the landlord, if the landlord priced it as a 15 year deal instead of a one year. Absolutely great for WeWork. Terrible for anyone who wants offices, since WeWork will sit on a large chunk of the market.
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Re:The Property Industry Is Falling Out of Love with WeWork
by RhodesianHunter on Wednesday December 19, 2018 @10:56PM
(#18722388)
If WeWork subsidiaries were defaulting right and left they wouldn't be able to get these deals.
They aren't, so they are.
Your comment seems to imply that the landowner has no choice.
Re:The Property Industry Is Falling Out of Love with WeWork
by lancesells on Wednesday December 19, 2018 @11:42PM
(#18722561)
Agreed. If, and when, they default it would most likely make news in the real estate / tech sector. Something seems too good to be true here but so far they haven't closed any locations.
Re:The Property Industry Is Falling Out of Love with WeWork
by blackstrips on Thursday December 20, 2018 @05:45AM
(#18723842)
Maybe WeWork is picking up left-over locations. Some rent is better than no rent.
If the landlord could find a better tenant, WeWork would have zero chance to rent any of it.