WeWork, the world's largest coworking space founded in New York in 2010, now has a valuation of over $16 billion dollars. Their recent valuation is comparable to the market values of Vornado and Boston Properties.
With data from Falkon, RE:Tech recently ran a sample study on the benefits of coworking operators like WeWork and their impact property valuation.
- Since lease commencement, WeWork has increased property value by 25.4%.
- 1 Little West Street increased in value by 123% one year after WeWork began operations.
- Average Property Valuation: $16.8M
- Average Percentage Appreciation: 25.4%
- WeWork Valuation: $16B
- Total Equity Funding: $1.43B