Traci Jenks.com

All About Commercial Real Estate

Month: December 2018

WeWork’s Real Estate Chief On Management Deals, New Players In Coworking And Why WeWork Could Weather A Downturn

It’s been a year of milestones for coworking behemoth WeWork. It announced a $3B injection from Japan’s SoftBank Group, which would value the company at $45B, making it second only to Uber as the most valuable startup in the country.

In September, it became the biggest private tenant in Manhattan, with more than 5M SF under its control in the borough. Across the city, WeWork has more than 7.2M SF in total footprint, according to the company’s figures, and is in 95 cities worldwide.

This is against a backdrop of a general coworking explosion, with players like Industrious, Knotel, Spaces and Convene all bolstering their presence on the office market.

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Cushman & Wakefield/CoreNet Global: Report on Autonomous Vehicles

Survey: Pending Shifts in Corporate Real Estate

Cushman & Wakefield, in partnership with CoreNet Global, conducted a survey about the impact that autonomous/driverless vehicles (AVs) are expected to have on businesses and real estate decisions.

The report explores key findings uncovered from corporate real estate executives around the world, including when AVs will impact the marketplace, how they will change employees’ workdays and how real estate strategies have to align.

Read the analysis of responses collected at CoreNet Global Summits in Seattle, London and Singapore.

Click here to download the report!

Indoor Golf Concept That Takes Vacant Department Store Space Gets Private Equity Backing

Golf in a shopping mall?  I hope this comes to Jacksonville! This is a great use of empty retail space. Read more about this new concept.

Courtesy of Cain International
Swingers’ Oxford Street location

From Biznow.com:

Cain International has bought a stake in the company behind indoor crazy golf concept Swingers, and will help it to expand in the U.K. and U.S.

Cain said it made a “significant investment” (but didn’t disclose how much) in Competitive Socialising, which was founded in 2014 by Matt Grech-Smith and Jeremy Simmonds. Competitive Socialising will be targeting more launches for Swingers in the U.S. and also launching a second concept in the U.K.

Swingers combines themed indoor crazy golf (aka mini golf in the U.S.) with cocktail bars and multiple street food vendors. It has two U.K. locations, 18K SF in the City and 21K SF in West End, and will soon open a 22K SF branch at the Virgin Hotel in Manhattan.

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