A WeWork solvency crisis could do serious harm to the global commercial real estate market, particularly in cities such as Denver, New York City, Chicago and London, where the co-workspace operator is the biggest private tenant, according to ZeroHedge. Landlords already facing a looming rental payment hole of unprecedented size from the closure of a predicted 11,000 retail stores this year could also find WeWork’s lease obligations frozen were it to go bankrupt, ZeroHedge said.
A WeWork solvency crisis could do serious harm to the global commercial real estate market, particularly in cities such as London, New York City, Chicago and Denver, where the co-workspace operator is the biggest private tenant, according to ZeroHedge. Landlords already facing a looming rental payment hole of unprecedented size from the closure of a predicted 11,000 retail stores this year could also find WeWork’s lease obligations frozen were it to go bankrupt, ZeroHedge said.