WeWork's first location in SoHo/ Image credit: WeWork blog
NEW YORK CITY—WeWork now claims the accomplishment of being the number one occupier of office space in Manhattan based on square footage. The Wall Street Journal first reported this news noting the flexible co-working space provider leases 5.3 million square feet of office space. WeWork says with its lease of 258,344 square feet at 21 Penn Plaza it has topped the 5.2 million square feet of office space that JPMorgan Chase owns or rents.
On the company blog, WeWork's chief development officer Granit Gjonbalaj describes how the company, that was founded in 2010, began with a single floor in one building in SoHo. But it grew to exceed the space of “the four banking giants that have dominated the commercial real estate market for years.” WeWork has approximately 60 locations across New York City with more than 50 in Manhattan.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
