WeWork to Ditch 92K sf at Gas Company Tower in Downtown LA
WeWork is exiting a landmark office location in Downtown Los Angeles due to unsuccessful negotiations with the landlord.
WeWork is strategically ending its operations at Gas Company Tower in line with the bankruptcy protection and lease renegotiations to save more than $1.5 billion. [ more ]
Adam Neumann is trying to buy back WeWork | TechCrunch
Adam Neumann is attempting to buy WeWork out of bankruptcy.
Neumann claims to have previously worked to arrange up to $1 billion of financing to stabilize WeWork but the former CEO shut down that process without explanation. [ more ]
Downtown San Jose office building faces seizure over payment dispute: docs
A downtown San Jose office building is caught in a legal battle between the owner, an affiliate controlled by WeWork's co-founder Adam Neumann, and construction company Build Group.
Build Group filed a legal action against the owner claiming unpaid fees for construction work on the building.
The lawsuit remains unresolved and further court hearings are scheduled for June 2023. [ more ]