WeWork just opened another location at 1448 NW Market St. in Seattle.
SEATTLE—Coworking continues to experience dramatic growth in tier 1 markets such as Seattle. Between 2010 and 2017, US coworking spaces have grown from 8.1 million to 51.2 million square feet. According to JLL, this growth accounted for more than a quarter of all US office absorption during the 24-month period ending December 2017.
Specifically, WeWork has emerged as the clear front runner in coworking and is also a top tenant in some of the largest loans securitized in CMBS deals, according to Kroll Bond Rating Agency. KBRA has identified 41 transactions where WeWork is a tenant with 30 office and mixed-use whole loans across 46 pari-passu notes (those where two or more assets, securities, creditors or obligations are equally managed without any display of preference).
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
