As a sign of the times, WeWork has purchased Lord & Taylor's flagship store in New York City. WeWork leases office space to small companies and will rent some space back from the retailer, which will continue to operate out of most floors.
Although the news is good for WeWork, I can't find a press statement, blog post, or tweet from the company. On Twitter, they did retweet the New York Times article, but I'm not sure why they don't announce the news themselves.
WeWork co-founder and CEO Adam Neumann was quoted in the New York Times article:
“Retail is changing, and the role that real estate has to play in the way that we shop today must change with it,” Mr. Neumann said in a statement. “The opportunity to develop this partnership with H.B.C. to explore this trend was too good to pass up.”
I'll post again when/if I see an update from the company.
- Why do you think WeWork hasn't posted its own announcement?
- What could WeWork say in an announcement? I think the company is missing an opportunity. Do you agree or not?