WeWork Plans to Shrink Boston Footprint 

WeWork Inc. is in talks to downsize its lease at the One Lincoln St. office tower in downtown Boston, signaling potential changes for its largest location in Greater Boston, Boston Business Journal reported. The company, currently undergoing Chapter 11 bankruptcy protection, signed a 15-year lease for 241,000 square feet at One Lincoln in 2018. 

The landlord, a Fortis Property Group affiliate, disclosed in a bankruptcy court filing that negotiations with WeWork involve a “potential prospective restructuring” of the lease. WeWork paid only a fraction of its January rent, indicating a significant shortfall. The company’s spokesperson stated, “Boston remains a priority market for WeWork,” expressing the goal to maintain presence in as many buildings as possible. One Lincoln, largely vacant since State Street Corp.’s departure, is set for extensive renovations.