Commercial property owners in New York joined a panel to discuss the impact of WeWork on the real estate industry. The event was hosted by the Real Estate Board of Greater New York, which represents more than 1,000 commercial and residential properties across the city. “Partnering with WeWork is something we’ve thought about,” said Columbia Property Trust CEO Nelson Mills, explaining that it would be beyond simply leasing space to the co-working company. Powers stated it had been the most poorly serviced sector throughout his careers with landlords, brokers, lawyers and builders all reluctant to work for small tenants adding that WeWork had cracked the code and removed the stigma attached to having a co-working tenant in a building.
Commercial property owners in New York joined a panel to discuss the impact of WeWork on the real estate industry. The event was hosted by the Real Estate Board of Greater New York, which represents more than 1,000 commercial and residential properties across the city. Powers stated it had been the most poorly serviced sector throughout his careers with landlords, brokers, lawyers and builders all reluctant to work for small tenants adding that WeWork had cracked the code and removed the stigma attached to having a co-working tenant in a building.