WeWork Inc. is currently in the process of determining the future of its largest Boston location at One Lincoln St., following approval from a New Jersey bankruptcy court. By June 30, WeWork must either assume the lease with a potentially smaller space or terminate it altogether, resulting in closure for this location.
Originally signing a 15-year lease for 241,000 square feet in 2018 and later relinquishing two floors, WeWork’s decision will have an impact on One Lincoln’s vacancy rate. The building already has significant vacancies after State Street Corp.’s departure last year and HarbourVest Partners’ planned occupancy of some former State Street space in 2025. Synergy Property Group is taking steps to improve the property by adding amenities such as pickleball courts and a cocktail lounge.
While retaining five other locations throughout Boston, WeWork has closed several others including those at addresses such as Berkeley St., Atlantic Ave., Summer St., and Water St.
The article “WeWork to Decide on its Largest Boston Office Lease” was originally published by Connect CRE.
