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HOUSTON—WeWork's setback could lead to a number of landlords invarious US markets wrestling with how to fill space, according to anew Transwestern research report.
There have been many measures of the impact coworking has had onthe office sector; Transwestern offers a new one in its study: whencomparing coworking expansion to the growth of top industriesnationally since 2015, coworking ranks ninth. Just prior toWeWork's IPO, momentum in the sector accelerated dramatically,improving its ranking to sixth among all industries through thethird quarter of 2019, and by itself accounting for nearly 8million square feet of absorption.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
