Office

While WeWork hasn’t openly billed the program as a brokerage service, some in the industry view the move as a way to change the brokerage business.

It may only be a matter of time before San Diego’s rapidly expanding tech sector develops into Southern California’s answer to Silicon Valley.

The social media giant confirmed it is taking 263,000 sq. ft. of space at 151 N. Franklin st., a new 35-story tower.

Approximately 54.7 million sq. ft. in new office deliveries are projected for next year.

Among the key factors affecting the sudden rise in TI allowances is a significant increase in new inventory that impacted supply and demand dynamics nationally.

Co-working, or sharing a building or floor, has proved so important to office real estate in the New York borough that the market would actually be shrinking without it.

Convene, founded in 2009, rents meeting and event space out by the hour or for as long as multiple days, and co-working space for a minimum of 12 months.

In a Q&A, Nelson Mills dissects the potential of the REIT’s core markets, assesses the Amazon effect on the office sector and speculates about where HQ2 will wind up.

WeWork expanded to 73 cities in the quarter from 40 a year earlier and more than doubled membership to 220,000.