Potential SoftBank-WeWork deal highlights flexible office trend
Reuters ----- Burgeoning interest and investment in flexible workspaces is pushing a small corner of the commercial real estate market into the corporate mainstream, and drawing one top executive from Asia to help expand his company's U.S. operations. Media reports say Japan's SoftBank Group Corp, with expertise in information technology and telecommunications, is close to investing more than $3 billion in the U.S. office-sharing upstart WeWork. This would mark a major vote of confidence in the business and the sector overall. Servcorp, an Australia-based rival to WeWork, believes the market is ripe for expansion and is sending its chief operating officer to New York with a goal of doubling U.S. operations, 22 locations, in about five years. "WeWork has really brought into the spotlight the fact that the flexible workspace is a fantastic solution, particularly for start-ups," said Marcus Moufarrige, COO and the founder's son of Sydney-based Servcorp, a leader in serviced office space and meeting rooms in Asia, the Middle East and Australia. To learn more click on the picture below to read the article.