WeWork is Struggling: Should Boston Be Worried?

The dramatic past few weeks in the world of co-working giant WeWork have sparked continued concerns in Boston landlords.

Indeed, the fallout from the departure of CEO Adam Neumann, the withdrawal of the company's IPO plans, and speculation that the company plans to layoff thousands has, at least in part, prompted two downtown deals to be scrapped. Bisnow reported earlier this week that Faros Properties and Northwood Investors have both backed out of WeWork deals at 14 Beacon St. and 230 Congress St., respectively.

WeWork launched in Boston in 2014 and has since become the city's second-largest tenant, behind financial giant Fidelity. WeWork's rapid sprawl has been most strongly felt in Back Bay and the Financial District, said Nancy Muscatello, a managing consultant with CoStar Group in Boston.

Read more on the Boston Business Journal.

Contact Us