Flexible / Coworking Archives | Page 18 of 31 | CREtech
Empty co-working spaces are helping push office vacancies in big cities to levels not seen in decades, threatening the commercial-property sector’s reputation as a haven for investors. Office buildings are often considered relatively protected from economic shocks because most tenants are locked into long-term leases of five years and often more. Landlords could count on steady income even at ti...
Co-working franchisor Office Evolution is continuing its Texas expansion by signing leases for the brand’s first locations in San Antonio and Austin. These will be Office Evolution’s fifth and sixth locally owned locations in the Lone Star State.
Coworking provider Serendipity Labs is attempting to restructure itself through the Chapter 11 bankruptcy process after failing to refinance its debt, one of several midsized coworking providers facing challenges during the coronavirus pandemic.
The core benefits of co-living took a big hit when the coronavirus struck New York City. Instagram-friendly common rooms and co-working spaces sat empty last spring as residents complied with strict lockdown orders. Postage-stamp bedrooms became constant quarters. Tenants who had become accustomed to regular cleaning services suddenly had to disinfect on their own....
Flexe is raising more capital ahead of schedule as the pandemic-driven e-commerce boom spurs faster-than-expected growth for its warehousing technology platform. The Seattle startup announced a $70 million Series C round led by new investor T. Rowe Price, with participation from existing backers Activate Capital, Tiger Global, Madrona Venture Group, Redpoint Ventures, Prologis Ventures, and others...
As Manhattan’s office landlords struggle to get people to return to the workplace, the city’s biggest provider of on-demand, in-person meeting spaces and conference centers has scaled back its footprint.
Of the $50 million in funding that Kasa Living Inc. has raised, $30 million in new Series B funding was led by Ribbit Capital and $20 million in Series A funding was led by FirstMark Capital less than a year ago.
After a successful New York-based pilot program over the past few months, WeWork is rolling out its On Demand offering in 160 U.S. locations. WeWork On Demand is a separate offering from monthly memberships of any size, charging $29 per day for access to a coworking location booked either days in advance or at a moment's notice.
The big picture: The rise of remote work has been disastrous for WeWork, which placed a hugely expensive bet on offices. Now the company is trying to find its place in the future of work by making its office space available on demand.
The real estate industry has been slow to adopt technology compared to many other sectors. So when Dominic Penaloza left his job at WeWork China as the head of innovation and technology this spring, he decided to focus on proptech in Asia.