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Seattle & Northwest  + Seattle  |  May 24, 2024
Jasmine Kilman
By: Jasmine Kilman

WeWork to Assume More Seattle Leases Amid Restructuring

WeWork Inc. plans to assume five more leases in the Seattle area, adding to the previously announced leases in the region. The news comes as the company said WeWork plans to assume a total of 89 leases across the U.S. and Canada.

WeWork’s ten leases represent more than 500,000 square feet of office space in the Seattle area.The company expects to emerge from bankruptcy with more than 170 locations across the United States and Canada, and it projects it will reduce its total rent commitments by more than $11 billion.

The company has previously announced the assumption of 77 leases and, upon emergence, expects to operate more than 170 locations across the United States and Canada and 337 locations globally. According to the company, WeWork has determined a path forward at over 97% of its global portfolio and is projected to reduce total rent commitments by over $11 billion.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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