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June 20, 2024
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Premier Workspaces Looks to Acquire Locations as WeWork Exits Leases Amid Bankruptcy


Flexible office space provider Premier Workspaces is actively exploring opportunities to acquire select coworking locations from landlords where WeWork is looking to exit leases due to the company's ongoing bankruptcy proceedings.

WeWork, as part of its bankruptcy filing announced that it will reject over 60 leases in the U.S. and potentially try and renegotiate hundreds of other leases. Irvine-based Premier Workspaces sees this as a unique chance to expand its footprint and strengthen its commitment to providing top-tier workplace solutions.

Premier Workspaces' acquisition strategy involves identifying and evaluating potential locations where WeWork is vacating leases, creating an opportunity for Premier to step in as the new operator. The company is dedicated to working closely with landlords to secure these locations through management, joint-venture, or lease agreements while maintaining continuity of service for existing occupants. Premier has been in business for more than 21 years.

The goal is to provide a stable and supportive environment for current occupants. The company, committed to delivering exceptional workspace solutions, including private offices, team rooms, coworking spaces, virtual offices, and meeting room facilities, leverages its well-established network of premium locations throughout the United States to accommodate the needs of both landlords and tenants affected by the WeWork situation.

Premier Workspaces is actively engaging in discussions with landlords to secure locations affected by WeWork's lease exits. Having successfully taken over 52 distressed shared workspace locations from other operators in the past, Premier is well-equipped to stabilize operations and reposition the acquired locations within the market. This expansion into new office space locations will further strengthen Premier Workspaces' position as a leader in the coworking industry.

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