True story: I once worked for a company that rented 3 of 4 floors in a building. The top floor was empty, and we were expanding, and we wanted it, and it should have been easy.
It took years. The property company would rather that floor to be empty earning no rent, than to cut a deal on it. And they won, the company paid their price and signed the long lease they wanted.
Property companies don’t blink. They will not cut WeWork any slack.
This is sometimes the case. Other times renting the last few units brings in significant cash flow as it increases the NOI disproportionately to leasing the initial units. For example you’re probably not hiring more custodial staff and you’re probably able to make draws from your debt as you’ve increased property value by being fully stabilized
It took years. The property company would rather that floor to be empty earning no rent, than to cut a deal on it. And they won, the company paid their price and signed the long lease they wanted.
Property companies don’t blink. They will not cut WeWork any slack.