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ashtonkem
WeWork probably wasn’t terribly sustainable during the best of times; it’s not surprising that they’re clinging hard onto any existing revenue during the worst of times.

It’ll be interesting to see how long they can hold on.

1123581321
Trying to separate the commercial landlord story from the WeWork story:

Thinking back to my commercial lease, I did have a clause entitling me to peacefully use the space. If my building had denied anyone access, would that have been grounds to break my lease?

Generally, is it common right now for commercial landlords to be forgoing rent?

youeseh
As a commercial landlord, do you have to pay property tax this year?
Voyiatzis
Of course. But it is deferrable, and without penalties.
jjeaff
Since property tax is based on assessed value, I wonder if people will be able to fight to get the assessed value lowered significantly.
Proven
Nobody forces you to use WeWork and pay for its services. End of story.
nradov
Why would any tenant sign a 3 year lease with WeWork? I thought the whole point was flexible short-term leases.
ta17711771
Not having time to deal with office management stuff, but having a bunch of money in the coffers.

Or, feeling that one or both of those was the case.

mattmcknight
It seems really dumb, but they likely had incentives like discounts or lower price increases that influenced the decision. Some people really undervalue optionality.