As promised, WeWork is preserving a big chunk of its DFW footprint.
The troubled coworking giant has been negotiating its leases as part of the bankruptcy process. It’s adding four locations to the list of leases it will maintain in the Metroplex, which the company has called “a priority market.”
Two leases are in Plano – 7700 Windrose in Legacy West, and 6900 Dallas Parkway. In addition, WeWork is maintaining its presence at 5960 Berkshire Lane in Preston Center, and at 1920 McKinney Avenue in downtown Dallas.
It’s not clear how large the company’s leases are.
WeWork already announced the assumption of 77 leases. That includes the company’s Clearfork office, at 5049 Edwards Ranch in Fort Worth.
Based on its announcements, WeWork appears to be keeping five of its seven DFW leases.
The company failed to renegotiate leases at Williams Square in Irving and Victory Park in Dallas. Bisnow previously reported that WeWork failed to come to agreements regarding its Plano leases, but WeWork’s May 20 announcement refutes that.
In addition to its DFW locations, the company also operates outposts for Common Desk, a Dallas-based coworking company that WeWork acquired in 2022. Three Common Desk locations have closed during the bankruptcy process, but the company still has 11 locations in North Texas.
WeWork is expected to exit bankruptcy this month after filing for Chapter 11 in November. The company aims to shed $4 billion in debt and receive $450 in fresh financing. Most of that sum is coming from Yardi Systems.
When it reemerges, the company expects to have a portfolio of 170 U.S. locations and 337 around the globe.
Despite WeWork’s woes, other coworking providers have thrived in Dallas-Fort Worth as the pandemic has made remote work more popular than ever. New York-based Industrious, for example, has three locations in Dallas.
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