WeWork...WeWork...WeWork... Wow. The end is NOT near.

More times than not, when out and about with clients, friends, prospects or family... (oh- and family) most of whom are barely aware of commercial real estate constructs to begin with, but all have access to an irresponsible number of news feeds on a slew of personal networked electronic devices— the now infamous and intensely salacious WeWork topic comes up. ​ ​ ​ ​

Following the initial discussion brings all of the other goodness -- SoftBank, Adam and the future of all WeWork tenants, leases (and employees) everywhere, as if I have Masayoshi Son on speed dial for brain bending when each of these inquiries roll in. ​ ​ ​

Well- the good news is that we have an opinion. The bad news; it may not be correct or, might not be popular. ​ The end is not near. ​ WeWork has provided TREMENDOUS solace to building owners around Chicago, almost habitually bailing many landlords out of nearly terminal and dangerously perpetual empty floors around town. This, is over. ​ For the next twelve months we expect a flight pattern of (nearly) status quo. Nothing too dramatic aside from SoftBank's involvement precipitating a likely adoption of some private equity-esque mantras focused on driving profit, contracting exposure to risk (this is not new involvement by SoftBank by the way as they have nearly always had two board seats on WeWork). ​

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