WeWork’s collapse shows how working from home is changing commercial real estate and compounding the sector’s economic challenges. Once hailed as the future of office development, the company recently filed for bankruptcy.
WeWork was born and grew after the Great Recession, opening its first Manhattan location in 2011. The company rented out offices for work-sharing. It not only offered well-equipped rooms with printers, internet, kitchen, and pleasant environments, but also promoted a startup culture that could stimulate entrepreneurs and innovation.
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