WeWork Starts To Look More Like Its Rivals

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WeWork rethinks its model with new lounge spaces and landlord partnerships post-bankruptcy. Plus, heat pumps gain traction as eco-friendly, cost-saving solutions, overcoming cold climate challenges with new technology.

WeWork Starts To Look More Like Its Rivals

WeWork has been forced to rethink its business model post-bankruptcy. Based on some of its recent moves, the new WeWork might resemble some of the companies that it eclipsed during its Icarian rise and fall. WeWork announced that one of its largest spaces and current headquarters at 575 Lexington in Manhattan will be partially converted into a lounge. The lounge area spans almost 15,000 square feet and features a coffee bar, meeting spaces, and an outdoor terrace that can be used by the building’s tenants.

“We’re excited to deepen our partnership with 575 Lexington Ave. and to welcome their tenants into the WeWork community,” said Whitney Anderson, senior director of real estate at WeWork. This new lounge concept is similar to what other flexible office providers like Convene have been offering for years. Co-working and lounge spaces can be valuable amenities, something that landlords are willing to pay for.

WeWork is also exploring new agreements with landlords, including profit-sharing agreements. The growing co-working provider Industrious has found success with this model. WeWork has a long road to recovery, and on the journey, it is going to need to reinvent itself.

Gone are the days of The We Company, where its charismatic founder was pushing into almost every vertical imaginable and trying to change the way the world works. Now, WeWork might not be looking to disrupt the office industry but rather to find its place in it.

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Propmodo Technology

Heat pumps have been touted as one of the keys to decarbonizing buildings and meeting net zero commitments. But the heating and cooling systems have long been dogged by criticism over their effectiveness in cold climates. Now, advances in technology are helping turn that around, as more manufacturers are developing systems that are just as effective in frigid temperatures as they are in mild climates. 

Check out this week’s Propmodo Technology focus on HVAC and Indoor Air Quality with the support of our friends at Partner Engineering and Science, Inc.

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