WeWork bends to landlord demands to secure office space as company plots Canadian expansion [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
WeWork bends to landlord demands to secure office space as company plots Canadian expansion At a dinner at Toronto restaurant Buca in January, WeWork executives convened many of the city’s top landlords to dine on fine Italian fare and to court their support for the office-sharing company’s aggressive expansion plans. Its message: WeWork will be more flexible with new contracts. After irking the real estate community with long negotiations, requests for expensive renovations and seemingly inflexible demands over the past five years, WeWork wants to do business differently, including here in Canada. The dinner was an opportunity for the New York-based company to improve its relationships with its proprietors and convince other landlords of its merits as it plans a five-fold expansion in North America’s hottest office market. WeWork, which is valued at US$47-billion, according to its latest round of fundraising, is in the business of leasing office space for upward of 1 years and then s
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