WeWork Is About to Become the Biggest Private Office Tenant in London
- Company will become London’s largest private renter of offices
- Softbank met competitor IWG ahead of investment in WeWork
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A seven-year-old U.S. startup is set to become the biggest private tenant in London just as the U.K.’s economic outlook worsens.
Three years after entering the British capital, WeWork Cos. has signed leases that will make it the city’s No. 1 private-sector user of office space, according to data compiled by CoStar Group Inc. for Bloomberg. The rapid growth makes WeWork, valued at $20 billion, increasingly important to the health of the city’s property market as well as more vulnerable to any future decline in rents.