The co-working office space giant takes over Tumblr's prior headquarters for its new HQ by WeWork program.

The economics are in favor of the small-box retailer, having to spend less on your lease rate means you can spend more on marketing, inventory management, customer management and of course less staffing.

The new owner has successfully repositioned other assets in the CBD.

The REIT has been selling off non-core properties for the last three years to build a portfolio of select-service assets.