People walk out of the co-working space WeWork in the Williamsburg neighborhood of Brooklyn in New York. WeWork’s downfall followed a period of breathtaking expansion. The company signed leases in the US for a total of about 2.8m sq ft in Q3 accounting for 69% of all flexible lease activity in the quarter , up from 68% in Q2 and 68% in Q3 last year . At the end of Q2 , WeWork controlled one-third of the flexible space market, nearly twice as much as Regus , CBRE said. The sector has been growing no more than 15% annually since 2010 and CBRE had predicted it would expand 68% 2010 . However, it has since reduced its estimate to 23% for 2010 and no more than 15% in 2020 .
WeWork’s downfall followed a period of breathtaking expansion. The company signed leases in the US for a total of about 2.8m sq ft in Q3 accounting for 69% of all flexible lease activity in the quarter , up from 68% in Q2 and 68% in Q3 last year . At the end of Q2 , WeWork controlled one-third of the flexible space market, nearly twice as much as Regus , CBRE said. The sector has been growing no more than 15% annually since 2010 and CBRE had predicted it would expand 68% 2010 . However, it has since reduced its estimate to 23% for 2010 and no more than 15% in 2020 .