The Real Deal New York

WeWork will renovate the UBS office in NJ

Company plans to add amenities like a juice bar and coffee stand
July 30, 2018 06:06PM

Weehawken UBS office rendering (Credit: WeWork)

WeWork has scored its biggest design deal yet.

The company’s Powered by We division will spearhead the renovation of the UBS office in Weehawken. WeWork launched the venture last year to offer expertise on real estate, design and office management to companies, according to Bloomberg. It will begin work on the UBS space in 2019, and the terms of the agreement have not been disclosed.

Powered by We currently has 30 customers and 11 spaces, and it generated $13.7 million in revenue last year, Bloomberg reported. The company is in preliminary talks with Sprint about redesigning the company’s Overland Park, Kansas headquarters.

UBS was interested in having WeWork take charge of the space to make it more welcoming to employees, but there have been some style clashes between the companies so far, according to UBS co-president of global wealth management Tom Naratil.

“They were actually pressing us much farther than we wanted to go,” he told Bloomberg. “They said, ‘If you want people to work in a silo, shove them into a silo on their way to work.’” [Bloomberg] – Eddie Small