Landlords around the world have become concerned about the risk of a collapse or major restructuring of WeWork and are making contingency plans, according to the Times. The company has been in talks with potential buyers for its office space since last year, but it is unclear if any deals will be finalized before the end of this year. A London-based landlord that counts WeWork as a tenant told the Times locations let to enterprise clients would be easier for landlords to operate themselves, but many were questioning what they would do with all the space in a worst-case scenario. A number of landlords, including Hines, British Land and Landsec, have launched flexible office brands over the past couple of years.
Landlords around the world have become concerned about the risk of a collapse or major restructuring of WeWork and are making contingency plans, according to the Times. Global property investor Hines, which has $125bn AuM, said it has held internal talks about managing the impact of a sudden return of some or all of the 10 million sq ft of office space it has leased to WeWork. A London-based landlord that counts WeWork as a tenant told the Times locations let to enterprise clients would be easier for landlords to operate themselves, but many were questioning what they would do with all the space in a worst-case scenario. A number of landlords, including Hines, British Land and Landsec, have launched flexible office brands over the past couple of years.