WeWork, Lend Lease in talks for global office venture: report

Co-working giant is looking to expand to Europe, Asia

New York /
Mar.March 04, 2016 03:08 PM

Lower Manhattan-based co-working giant WeWork and Australian construction firm Lend Lease are considering forming a venture that would focus on leasing office and living spaces worldwide.

WeWork, which has a few spaces in Israel, has been said to be eyeing expansion into China and India. The venture could span Europe, the Asia-Pacific region and North America.

The first project may be in England at the International Quarter in Stratford City, 10 minutes outside of London, Bloomberg reported. The large development, slated to have some office space ready in 2017, is near where the 2012 Olympic Games were held. Lend Lease is developing the project with LCR, according to its website.

The agreement may include WeWork office space, or apartments under the WeLive brand, sources told Bloomberg. WeLive is the collaborative workspace provider’s “co-living” dormitory venture.

Lend Lease may develop buildings and then lease them to WeWork. Another option is the coworking giant may manage the Lend Lease properties, Bloomberg reported.

In November, The Real Deal reported WeWork was actively searching for locations to set up shop in Shanghai.

WeWork’s valuation jumped by 50 percent to $15 billion last month. The collaborative workspace provider manages nearly 3 million square feet in the city. The collaborative workspace provider recently leased 60,000 square feet at the USPS’s East Midtown post office at 450 Lexington Avenue. [Bloomberg]Dusica Sue Malesevic


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Blackstone's Jon Gray (Blackstone, Getty)
Blackstone limits REIT withdrawals
Blackstone limits REIT withdrawals
7 DeKalb Avenue with Avanath Capital Management CEO Daryl Carter and Daniel Brodsky (Brodsky, Avanath Capital, Getty)
Brodsky selling DoBro apartments for $100M
Brodsky selling DoBro apartments for $100M
Blackstone's Stephen Schwarzman with MGM Grand Las Vegas and Mandalay Bay in Las Vegas (Getty)
Blackstone sells MGM Grand, Mandalay Bay stakes
Blackstone sells MGM Grand, Mandalay Bay stakes
(Getty)
Fifth straight monthly decline in pending home sales
Fifth straight monthly decline in pending home sales
A photo illustration of NYCHA interim CEO Lisa Bova-Hiatt (Getty, NYCHA)
NYCHA tenants’ rent arrears surge to $443M
NYCHA tenants’ rent arrears surge to $443M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...