An interesting move from WeWork, they are now moving into office agency advice and brokerage.
A new venture called WeWork Space Services is being trialled in New York. It will advise tenants on their general leasing needs, in particular any tenants moving out of their WeWork space.
Is WeWork's aim seems to touch every facet of the real estate market? A sort of one stop shop for all property needs? Some commentators think it could be pretty disruptive to the brokerage market.
Its an interesting move for a tech valued company, this work stream will push it into a more traditional real estate role.
Its also interesting to note that clients of WeWork get a complimentary one year global co-working membership when they leave WeWork space. It increases the opportunity and liklihood for leaving tenants to sign up again in the future and presumably is intended to build a loyalty to the WeWork model and global community.
All very interesting developments in the serviced office sector. WeWork is certainly changing the traditional office real estate market.
Brokers Don’t Need To Be Worried About WeWork’s New Leasing Business (Yet)