TH Real Estate is the landlord
WeWork has leased more than 258,344 square feet at TH Real Estate’s 21 Penn Plaza. This is on top of the 69,679 square feet the co-working company signed at 880 Third Avenue earlier this week, according to GlobeSt.
Major force to be reckoned with… The company now leases over 3.2 million SF of office space across Manhattan, Brooklyn and Queens.
Flashback: TH Real Estate paid $250 million for the property in 2014. With the co-working giant anchoring the 400,000 SF building, TH Real Estate is betting on the sustainability of WeWork’s business model. WeWork’s NYC locations have an occupancy rate of around 90 percent.