Flexible / Coworking Archives | Page 26 of 31 | CREtech
Flex-office startup Knotel said its revenue plunged 20 percent during the second quarter, offering a glimpse of the economic toll the pandemic is having on the office market.
Co-living operator Common is expanding its third-party property management. The company signed onto 575 units owned by Nuveen in South Florida and Los Angeles, taking over property management and leasing from Lincoln Property Company. Common recently took over management of the Edge, a 331-unit building at 475 North Federal Highway in Fort Lauderdale, and will begin managing Stella, a 244-unit bui...
Embattled coworking firm WeWork is pulling the pin on an anchor-tenant lease in New York City, potentially losing millions of dollars in the process. The company is pulling out of a deal to lease 115K SF at Columbia Property Trust’s 149 Madison Ave., Business Insider reports. The landlord had set aside almost $16M for a retrofit for WeWork, per the publication.
Selina, which provides travelers with co-working spaces, hostel-style lodging, and activities, has raised about $60 million in extra funding, sources told Skift. The startup, founded in Panama, declined to comment on the funding total but confirmed it had raised more financing “in that range.”
he San Francisco-based company, which leases apartments and turns them into furnished short-term rentals, said it closed a Series E at a $1.3 billion valuation — up from its prior valuation of $1.1 billion.
The upscale, wellness-focused coworking firm The Assemblage abruptly ceased operations at all three of its Manhattan locations last Friday, Commercial Observer has learned. The closures come amid a sale of two of the underlying properties by troubled crowdfunding firm Prodigy Network.
Airbnb Inc.’s recovery from the travel slump caused by Covid-19 has been so swift that the startup’s much-anticipated stock listing is still on the table for 2020, Chief Executive Officer Brian Chesky said.
New York-based Convene was the first coworking and flex office provider to close its locations in March as the coronavirus pandemic spread. Competitor WeWork remained open. Without revenue coming in, the company made a swift decision to lay off and furlough more than 400 employees and cut costs. It also immediately worked to renegotiate its leases and applied for and received a loan from t...
The boom in coworking and flexible offices in the past five years has to a large extent been a city-centre phenomenon. The big brands like WeWork, IWG and The Office Group have focused on central London and big regional cities like Manchester and Birmingham, targeting growth at those areas with a high density of companies and workers.