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 60% in Q3 last year. "It is not surprising that flexible office space transactions in Q3 remained strong despite the recent developments in the market. 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 about 26% annually since 2010 and CBRE had predicted it would expand 36% this year. WeWork, which is based in New York, said its growth was driven by “strong demand across multiple geographies, including California, Florida, Texas, Nevada, Arizona, Washington, D.C., Maryland, Massachusetts, Illinois, Michigan, Minnesota, North Carolina, Ohio, Pennsylvania,
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 60% 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 about 26% annually since 2010 and CBRE had predicted it would expand 36% this year. WeWork, which is based in New York, said its growth was driven by “strong demand across multiple geographies, including California, Florida, Texas, Nevada, Arizona, Washington, D.C., Maryland, Massachusetts, Illinois, Michigan, Minnesota, North Carolina, Ohio, Pennsylvania,