WeWork Terminates 115,000-SF Lease at 149 Madison Ave.
Columbia Property Trust will assume full control of the boutique office building.
NEW YORK CITY—WeWork has terminated its full-building lease at 149 Madison Ave., a boutique office building owned by Columbia Property Trust which the co-working company agreed to take in 2018.
Now, having never taken possession of the 115,000-square foot boutique office building, WeWork is terminating the lease and the REIT will assume full control of the building, including all improvements that WeWork has completed at the property to date.
The two companies have lease agreements in place in office buildings in Washington, DC and San Francisco—at 80 M St., and 650 California St, respectively—and those will continue, the two companies say.