The office landlord’s big gamble: WeWork is sole tenant in at least 5 NYC office buildings
CRETech
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1 minute read
Office landlords in New York City — known to play it safe and fill their buildings with multiple tenants to mitigate risk — are breaking the rules for WeWork, the office space startup that has gobbled up 5 million square feet across the city.
In the rare case that a landlord is smitten by that one tenant, they’re almost always looking for a company with a great track record or a sturdy business model, such as a white-shoe law firm or a well-capitalized financial institution.