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

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

TRD 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
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
217 West 57th Street with Extell Developement's Gary Barnett and Corcoran's Pamela Liebman (Photos via Extell; Barnett via Anuja Shakya)

Extell brings on Corcoran Sunshine to help market Central Park Tower

Extell brings on Corcoran Sunshine to help market Central Park Tower
Rendering of the 124-125 White Street jail (Courtesy of the Mayor's Office of Criminal Justice; iStock)

City moves forward with first design-build contracts

City moves forward with first design-build contracts
Erik Conover and Michael Fulfree

Meet the agents Nest Seekers is betting on

Meet the agents Nest Seekers is betting on
Sam Chang and TownePlace Suites by Marriott at 324 West 44th Street (Google Maps)

Hotelier Sam Chang’s businesses snagged millions in PPP loans

Hotelier Sam Chang’s businesses snagged millions in PPP loans
Shadow Ventures CEO KP Reddy (Linkedin)

Shadow Ventures launches crowdfunding for proptech startups

Shadow Ventures launches crowdfunding for proptech startups
arrow_forward_ios

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

Loading...