A source close to the deal states Adam Neumann is still the company's largest single shareholder.

Because cities can make or break a new development, the city should be considered a member of the core development team.

Newark, NJ is also emerging as a technology hub. CBRE reports that total tech occupations grew 9.7% from 2013 to 2018 in the City of Newark.

Tower CRE states that the launch of the new division was prompted by closing $50 million in cannabis-related retail and industrial transactions in the last 18 months with an additional $15 million in the pipeline that are expected to close by the end of this year.