These cities are most vulnerable to shocks from WeWork’s woes (hint: not New York or San Francisco).
The cities most vulnerable to fallout from a pullback in the office co-sharing craze that was sparked a decade ago by the real-estate venture WeWork and its rivals aren’t who you might suspect, according to a new report.
Those cities include major metropolises including Miami, Los Angeles and Denver, according to the report. This map shows which U.S. cities have a higher risk to fallout if the economy slips and the market for office-sharing real estate cools. “Should unemployment increase, we would expect the use of co-working spaces to decrease, leading to a drop in revenue across the entire sector,” wrote Dittmer. “Poorly capitalized co-working firms may shutter, and larger firms may seek to sublease or terminate leases.”
On Tuesday, WeWork’s new leadership said the company had secured a $1.75 billion credit facility from a group of banks led by Goldman Sachs. Management also spelled out targets for the company to be free cash flow positive in 2020 and to reach 1 million memberships in 2023, up from roughly 660,000 currently.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Lauv Details New Album, BTS Collaboration at Private Listening Event in New YorkThe singer-songwriter-producer shared the stories behind his debut LP in a supportive room of his champions and media at the Kobalt/AWAL offices.
Consulte Mais informação »
Issa Rae’s New Record Label Curated New York Fashion Week’s Coolest PlaylistIssa Rae and Aliétte designer Jason Rembert discuss their runway collaboration.
Consulte Mais informação »
5 Standout Fall 2020 Beauty Trends From New York Fashion WeekThis season was full of experimental, artful, inventive hair, makeup and nails.
Consulte Mais informação »
New York prosecutor says former movie producer Weinstein abused his powerNew York prosecutors told jurors that Harvey Weinstein abused his power and push...
Consulte Mais informação »
Model Alliance Holds Protest Outside Victoria’s Secret Flagship in New YorkWhile organizers were encouraged by the protest, several shoppers and passers-by said they were unaware of the event’s purpose.
Consulte Mais informação »