Quote:
Originally Posted by AusTxDevelopment
Not on a massive scale.
WeWork currently has 8 leased spaces in Austin totaling 515,000 square feet, and they are in lease negotiations for an additional 210,000 square feet, which probably won't happen now. 515,000 sf spread out across 8 buildings is not that much in the grand scheme of things. Austin won't be impacted as significantly as New York or Chicago, where WeWork is the largest and second-largest tenant in those cities, respectively.
Edited to add, they are in 7 leased spaces and own their building at 801 Barton Springs.
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In the short term though that's about 60% of the square footage of the republic. Now, lots of that is in lower quality office that is older stock. So it wouldn't affect a high end lease but would have some impact
like I doubt Google or Facebook would be interested in One American Center.