James Harring News Today

WeWork Slashes Prices Across the U.S. by 10% The co-working operator reduced the price of most of its rental units at least twice, in November and January. Bloomberg | Feb 18, 2021 (Bloomberg)—WeWork Cos. cut prices across the U.S. in the past few months, indicating that a post-pandemic recovery will come slowly for office rentals. The New York-based company reduced the price of most rental units—from individual desks to small offices—in early November and again in January, acco...

Email Address Office rental prices across the country have been dropping precipitously. In the largest American cities, fewer than 20% of office workers were back at their desk at the end of last year. Landlords’ asking prices could drop by 7% by early next year before rebounding, a CBRE forecast shows. Separate research by Green Street found the hit could be hardest in New York and San Francisco. By coincidence, WeWork started a significant push to cut costs before the coronavirus outbrea...