{"id":1004736165,"date":"2024-11-07T00:10:33","date_gmt":"2024-11-07T08:10:33","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004736165"},"modified":"2024-11-07T07:52:27","modified_gmt":"2024-11-07T15:52:27","slug":"wework-renews-flex-office-space-at-boston-high-rise","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/wework-renews-flex-office-space-at-boston-high-rise\/","title":{"rendered":"WeWork Renews Flex Office Space at Boston High-Rise"},"content":{"rendered":"
\n
\"Interior<\/a>
The company will continue to use a three-floor space at the State Street Financial Center skyscraper. Image courtesy of WeWork<\/em><\/figcaption><\/figure><\/div>\n\n\n

WeWork has entered into a revenue-sharing agreement under which it will continue to operate on a three-floor coworking space in Boston<\/a>. The deal is solidifying the company\u2019s long-term stay at State Street Financial Center, a Class A+ office tower in downtown Boston\u2019s Financial District, owned by Fortis Property Group.<\/p>\n\n\n\n

WeWork has been incorporating more revenue-sharing deals as alternative leasing agreements in its portfolio. With this strategy, both operators and landlords can share the on-going demand for this type of space, in line with coworking trends<\/a>.<\/p>\n\n\n\n

The company’s total footprint at the property amounts to 64,323\u00a0square feet, according to CommercialEdge. Other tenants include CFGI, Stanton Chase, Taylor Hopkinson and Sherin and Lodgen LLP.<\/p>\n\n\n\n

\n\n\n\n

READ ALSO:<\/strong> Are Coworking Networks the Future of Office?<\/a><\/p>\n\n\n\n

\n\n\n\n

The 36-story Street Financial Center came online in 2003 and encompasses 1.1 million square feet of office space and 900 parking spots. The current ownership picked up the property in 2006 for $889 million from American Financial Realty Trust, the same source shows.<\/p>\n\n\n\n

Since then, the building became subject to a $1 billion-plus refinancing deal<\/a> closed in 2022. The proceeds were used for existing debts and provided more than $200 million for capital upgrades such as complete renovations of the lobby, amenity center, food services and reconfigured floorplates, with a focus on wellness and lifestyle spaces.<\/p>\n\n\n\n

The skyscraper at 1 Lincoln St. is close to Interstate 93 and South Station. Boston Logan International Airport is 3 miles away, while Cambridge, Mass., is 6 miles northwest.<\/p>\n\n\n\n

A surge in coworking spaces<\/h2>\n\n\n\n

Coworking spaces continue to gain momentum in the U.S., with the total number of locations reaching 7,538 in the third quarter of 2024, a recent CoworkingCafe report<\/a> shows. Across the 25 leading markets in the country, Boston recorded 4.8 million square feet of shared space in 208 coworking locations, remaining one of the top 10 metros.<\/p>\n\n\n\n

With more companies looking into hybrid- and remote-work solutions, WeWork launched Coworking Partner Network<\/a>, an affiliate program with third-party operators that will allow existing members to access new flex office space in markets across the U.S. and Canada. The network launched last month and secured its first affiliate, Vast Coworking Group, a franchiser which operates more than 190 locations in 31 U.S. states and 10 Canada cities.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company occupies three floors at the 36-story tower.<\/p>\n","protected":false},"author":2991,"featured_media":1004736177,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21784,52118,21742,10,21747],"tags":[38209,33678],"class_list":["post-1004736165","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-brokerage","category-coworking","category-latest","category-northeast","category-office","tag-fortis-property-group","tag-wework"],"acf":[],"yoast_head":"\nWeWork Renews Flex Office Space at Boston High-Rise - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"WeWork entered into a revenue-sharing agreement under which it will continue to operate on a three-floor coworking space in Boston.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/wework-renews-flex-office-space-at-boston-high-rise\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WeWork Renews Flex Office Space at Boston High-Rise\" \/>\n<meta property=\"og:description\" content=\"WeWork entered into a revenue-sharing agreement under which it will continue to operate on a three-floor coworking space in Boston.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/wework-renews-flex-office-space-at-boston-high-rise\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-07T08:10:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-07T15:52:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/Print_300DPI_1080x1080-2020-20-101-Lincoln-St-Boston-MA-016-1080x630-1-e1730903884876.png\" \/>\n\t<meta property=\"og:image:width\" content=\"838\" \/>\n\t<meta property=\"og:image:height\" content=\"629\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Simona Tudose\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/wework-renews-flex-office-space-at-boston-high-rise\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wework-renews-flex-office-space-at-boston-high-rise\/\",\"name\":\"WeWork Renews Flex Office Space at Boston High-Rise - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/wework-renews-flex-office-space-at-boston-high-rise\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/wework-renews-flex-office-space-at-boston-high-rise\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/Print_300DPI_1080x1080-2020-20-101-Lincoln-St-Boston-MA-016-1080x630-1-e1730903884876.png\",\"datePublished\":\"2024-11-07T08:10:33+00:00\",\"dateModified\":\"2024-11-07T15:52:27+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4\"},\"description\":\"WeWork entered into a revenue-sharing agreement under which it will continue to operate on a three-floor coworking space in Boston.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/wework-renews-flex-office-space-at-boston-high-rise\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/wework-renews-flex-office-space-at-boston-high-rise\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/wework-renews-flex-office-space-at-boston-high-rise\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/Print_300DPI_1080x1080-2020-20-101-Lincoln-St-Boston-MA-016-1080x630-1-e1730903884876.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/Print_300DPI_1080x1080-2020-20-101-Lincoln-St-Boston-MA-016-1080x630-1-e1730903884876.png\",\"width\":838,\"height\":629,\"caption\":\"Image courtesy of WeWork\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/wework-renews-flex-office-space-at-boston-high-rise\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"WeWork Renews Flex Office Space at Boston High-Rise\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4\",\"name\":\"Simona Tudose\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/SimonaTudose_AuthorPhoto.jpg?w=79\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/SimonaTudose_AuthorPhoto.jpg?w=79\",\"caption\":\"Simona Tudose\"},\"description\":\"Simona Tudose is an Associate Editor with Commercial Property Executive and Multi-Housing News. She joined the CPE-MHN team in July 2022 and writes news about industrial, office and manufactured housing sectors. You can reach out to her at simona.tudose@cpe-mhn.com.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/simona-tudose\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"WeWork Renews Flex Office Space at Boston High-Rise - Commercial Property Executive","description":"WeWork entered into a revenue-sharing agreement under which it will continue to operate on a three-floor coworking space in Boston.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/wework-renews-flex-office-space-at-boston-high-rise\/","og_locale":"en_US","og_type":"article","og_title":"WeWork Renews Flex Office Space at Boston High-Rise","og_description":"WeWork entered into a revenue-sharing agreement under which it will continue to operate on a three-floor coworking space in Boston.","og_url":"https:\/\/www.commercialsearch.com\/news\/wework-renews-flex-office-space-at-boston-high-rise\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2024-11-07T08:10:33+00:00","article_modified_time":"2024-11-07T15:52:27+00:00","og_image":[{"width":838,"height":629,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/Print_300DPI_1080x1080-2020-20-101-Lincoln-St-Boston-MA-016-1080x630-1-e1730903884876.png","type":"image\/png"}],"author":"Simona Tudose","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/wework-renews-flex-office-space-at-boston-high-rise\/","url":"https:\/\/www.commercialsearch.com\/news\/wework-renews-flex-office-space-at-boston-high-rise\/","name":"WeWork Renews Flex Office Space at Boston High-Rise - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/wework-renews-flex-office-space-at-boston-high-rise\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/wework-renews-flex-office-space-at-boston-high-rise\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/Print_300DPI_1080x1080-2020-20-101-Lincoln-St-Boston-MA-016-1080x630-1-e1730903884876.png","datePublished":"2024-11-07T08:10:33+00:00","dateModified":"2024-11-07T15:52:27+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4"},"description":"WeWork entered into a revenue-sharing agreement under which it will continue to operate on a three-floor coworking space in Boston.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/wework-renews-flex-office-space-at-boston-high-rise\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/wework-renews-flex-office-space-at-boston-high-rise\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/wework-renews-flex-office-space-at-boston-high-rise\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/Print_300DPI_1080x1080-2020-20-101-Lincoln-St-Boston-MA-016-1080x630-1-e1730903884876.png","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/Print_300DPI_1080x1080-2020-20-101-Lincoln-St-Boston-MA-016-1080x630-1-e1730903884876.png","width":838,"height":629,"caption":"Image courtesy of WeWork"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/wework-renews-flex-office-space-at-boston-high-rise\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"WeWork Renews Flex Office Space at Boston High-Rise"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4","name":"Simona Tudose","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/SimonaTudose_AuthorPhoto.jpg?w=79","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/SimonaTudose_AuthorPhoto.jpg?w=79","caption":"Simona Tudose"},"description":"Simona Tudose is an Associate Editor with Commercial Property Executive and Multi-Housing News. She joined the CPE-MHN team in July 2022 and writes news about industrial, office and manufactured housing sectors. You can reach out to her at simona.tudose@cpe-mhn.com.","url":"https:\/\/www.commercialsearch.com\/news\/author\/simona-tudose\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/Print_300DPI_1080x1080-2020-20-101-Lincoln-St-Boston-MA-016-1080x630-1-e1730903884876.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004736165","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/2991"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004736165"}],"version-history":[{"count":7,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004736165\/revisions"}],"predecessor-version":[{"id":1004736467,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004736165\/revisions\/1004736467"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004736177"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004736165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004736165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004736165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}