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WeWork signs long-term lease for space in NYC building

CIM Group LP signed a lease with shared workspace provider WeWork Cos. Inc. for roughly 236,000 square feet of space at its office building on 1440 Broadway in Manhattan, N.Y.

Under the long-term lease, WeWork will occupy a new private entrance and lobby on the 41st St. and 14-21 floors inside the 25-story, 747,000-square-foot office building.

CIM acquired the asset in December of 2017 and is upgrading the building, with completion scheduled for the first quarter of 2019, according to a release.