NEW YORK CITY—WeWork has terminated its full-building lease at 149 Madison Ave., a boutique office building owned by Columbia Property Trust which the co-working company agreed to take in 2018.
Now, having never taken possession of the 115,000-square foot boutique office building, WeWork is terminating the lease and the REIT will assume full control of the building, including all improvements that WeWork has completed at the property to date.
The two companies have lease agreements in place in office buildings in Washington, DC and San Francisco—at 80 M St., and 650 California St, respectively—and those will continue, the two companies say.
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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.
