In November, news broke that the shared-office provider WeWork raised $150 million in February from a number of high-profile investors, including Boston Properties’ Mort Zuckerman.
The deal valued WeWork at $1.5 billion and catapulted it into the limelight. It was suddenly a “unicorn,” Silicon Valley-speak for a company that races to a $1 billion-plus valuation based on fundraising...
Midtown office leasing data compiled by Savills Studley corroborates Ravesloot’s observation. The chart below shows average asking rents between 2006 and 2015 broken down by office size. Offices with less than 5,000 square feet saw rents dip significantly in 2009 and 2010, but the decline was short-lived. In comparison, rents for larger office spaces recovered far slower in 2010 and 2011...The dangers and opportunities facing real estate’s $5 billion ‘unicorn’ startup
Related StoriesEB-5 Investment and the Impact on Commercial Real Estate
National Office Sector Report (Q4 2014)