Cushman & Wakefield (CWK) announced a strategic investment of $150 million in WeWork. With the leading co-working space company, CWK launches two initiatives.
During the last month, Cushman & Wakefield announced a strategic partnership with WeWork. CWK is a global real estate services firm with almost 50.000 employees spread across 60 countries. So, partnering with the leading co-working space company provider, the firm wants new pilot program opportunities for its occupiers.
Two New Initiatives For The Leading Co-working Space Company
The partnership includes two core initiatives:
- First, improving owners and corporate occupiers’ user experience using WeWork’s proprietary software. It will include better access control and reservation systems; amenity programming; usage data; guiding capital investments; and so on.
- Second, creating new revenue streams for owners. So, they will operate in flexible workspace in their portfolio.
So, the new partnership with the co-working space company provider will support corporate occupiers in this transaction moment.
As Brett White, Executive Chairman & CEO of Cushman & Wakefield, said: “WeWork is an innovator in our industry as they demonstrated their ability to build a tenant experience […] And they’ve been a pioneer in using technology to efficiently manage that experience and the office space around it. Through this partnership, Cushman & Wakefield will scale WeWork’s technology […] to drive optimal workplace experience and return on investment.”
And, Sandeep Mathrani, CEO of WeWork, added: “Cushman & Wakefield is our strategic partner. We expand our ability to provide tenants and landlords with the technology and hospitality expertise to power flexible space solutions within their own portfolios. Flexibility is a priority for real estate decision-makers worldwide. We are excited to bring the WeWork product to Cushman & Wakefield’s extensive network.”
While remote and hybrid models remain a popular choice, the leading co-working space company provider is an asset to support employers and employees.