AUSTIN | Waterline | 1,034 Feet | 73 Floors | T/O

[ATXboom]

The problem for WeWork is they own no assets. Property owners and management companies are now copying the model. 98 San jac has monthly rental and amenities for example. No doubt this is a growing trend and WeWork was one of the first movers at scale. But it’s easy to copy and if u own the building and run this model you could probably undercut WeWork prices. Hence WeWork rebranding and expanding into living and health. The health thing could be disruptive. Imagine as an individual getting group insurance via WeWork membership.

Fwiw. Facebook took all 4 floors of the WeWork in Chase bldg. corporates are putting flex up/down teams in these short term spaces. Mainly sales and service or support functions.