Seattle & Northwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
WeWork Files Motion to Keep Lease at Co-Working Space in Ballard
WeWork has solidified five new lease assumptions throughout the United States, including one in Seattle. The co-working firm filed a court motion to remain in the 15th and Market building in the city’s Ballard neighborhood.
The assumptions are still subject to court approval and are part of the company’s efforts to strategically restructure amid a Chapter 11 bankruptcy. WeWork says it is working with landlords to reach new terms at each of the five buildings.
“Today’s assumptions highlight our commitment to maintaining a strong presence in economic hubs across the country,” said Peter Greenspan, global head of real estate at WeWork, in a statement.
The company, once valued at $47 billion, says it has been making progress in various negotiations related to its real estate portfolio. In March, CENTRL Office signed on to take over the former WeWork space at Capitol Hill’s Kelly-Springfield Building located at 1525 11th Avenue.
