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HOUSTON—WeWork's setback could lead to a number of landlords in various US markets wrestling with how to fill space, according to a new Transwestern research report.
There have been many measures of the impact coworking has had on the office sector; Transwestern offers a new one in its study: when comparing coworking expansion to the growth of top industries nationally since 2015, coworking ranks ninth. Just prior to WeWork's IPO, momentum in the sector accelerated dramatically, improving its ranking to sixth among all industries through the third quarter of 2019, and by itself accounting for nearly 8 million square feet of absorption.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
