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3 tenants leave WeWork locations


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3 tenants leave WeWork locations

Three tenants will abandon their leases with WeWork Cos. Inc. and relocate to the 370 Lexington Ave. property in Manhattan, N.Y., owned by Broad Street Development LLC, Crain's New York Business reported.

Sircle Media, One Search New York and Basis Research signed on for about 4,000 square feet, over 3,000 square feet and nearly 2,000 square feet, respectively, at the 315,000-square-foot building, Broad Street COO Daniel Blanco told the publication. The companies are reportedly concerned about financial problems faced by the WeWork.

All the new leases span about five years, longer than their agreements with WeWork, according to the report.