For years, landlords and real estate brokers worried that WeWork’s rapid rise would cut into their business. Now the office-leasing industry must grapple with the potential loss of a voracious customer.
Take Manhattan, where WeWork occupied more than 7 million square feet as of the end of June, about 73% more than it had a year before, CBRE Group Inc. data show. WeWork accounted for 6.8% of Manhattan leasing activity in 2018, and 5.2% so far this year, according to CBRE.