I’ve heard of people going to WeWork because their employer closed the office but they don’t want to work from home.
Lots of people who would normally have excellent, well-lit offices, have a cramped bedroom at home due to exorbitant rent prices in the Bay Area.
When companies went WFH, they didn't give any rent subsidies to people to rent out bigger apartments with proper work space.
As companies shutter the big HQ to save money on leasing empty square footage and workers disperse to distant cities, a desk in a cowork space, or even better a small private office, will become a very important need for many people.
Maybe not in the form of WeWork rebounding but the conversion of office towers to cowork is almost certain to be a trend in my mind, well before conversion to residential.
Not too many have abandoned it. There's a lot of one person offices, so mostly everyone is in their own offices with no need for masks.
We've had a number of new people in the floor who rented it out because their own offices were closed, but they didn't want to work at home, so they rented out an office just for themself.
It's been fantastic for me, having an office here over the last 1 1/2 years.
It wouldn't work for a large company, but that's not who these executives suites like WeWork, Regus, Premier, Barristers, etc are built for.
Now, WeWork may have a lot of OTHER issues, I don't know. But any issues are not because of their market niche.
It was basically a podcast channel for hip 90s NYC culture.
They got the idea totally right but the timing totally wrong. Psuedo filed for bankruptcy in 2001.