WeWork : Completes Lease Portfolio Review in Kansas City

New York, NY - May 6, 2024 - WeWork has completed its lease rationalization in Kansas City today with the assumption of its lightwell location contract. WeWork expects to continue its operations in Kansas City into the future and there will be no further changes to its real estate portfolio in the market as part of its global lease restructuring.

The news follows a successful negotiation with its landlord partner, SomeraRoad. As a result, WeWork will continue to operate coworking and flexible office spaces within two floors of lightwell. Since opening, WeWork's lightwell location has become popular with some of Kansas City's most innovative startups and companies.

"We are grateful to SomeraRoad for their collaboration and support in reaching this mutually beneficial outcome. In this challenging macro environment, it is important to be thoughtful and creative in finding solutions that align the interests of our companies. Through this new agreement, we both stand to share in anticipated future success. The lightwell building is a one-of-a-kind asset in Kansas City, and we are excited to continue to offer a high-quality working experience from the building," said Melissa Visoky, Senior Director of Real Estate at WeWork.

"WeWork has attracted a dynamic mix of the city's most innovative startups, freelancers and creatives, and long-established Kansas City businesses to lightwell," said Ian Holland, Senior Associate at SomeraRoad. "WeWork's desire to remain at lightwell is a testament to the building's best-in-class offerings and amenities. Alongside WeWork, we look forward to continuing to offer a best-in-market office experience at lightwell for years to come."

Today, WeWork assumed 16 leases in the US and Canada, for more information read here. For more information on lightwell, please visit https://lightwellkc.com.

About WeWork

WeWork was founded in 2010 with the vision to create environments where people and companies come together and do their best work. Since then, we've become the leading global flexible space provider committed to delivering technology-driven turnkey solutions, flexible spaces, and community experiences. For more information about WeWork, please visit us at wework.com.