The risks of a WeWork tenant: The millennial impact on real estate
Co-working providers are now a force to be reckoned with. WeWork, the $17 billion startup, added hundreds of thousands of square feet worth of new Manhattan leases in 2016 and will soon be among the biggest lessees in the United States.
This has spurred investment in office properties that appeal to co-working providers. But there are risks in entering long-term leases with startups like WeWork: Does their credit hold up for the term or more when the investor wants to sell the building?
In this Privcap video, Michael Schwartz of RSM, Peter Ciganik of GTIS Partners and Andrew Jacobs of Metropolitan Real Estate weigh in on the risks of a WeWork tenant.
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