WeWork’s Former NYC Headquarters Taken Over by Coworking Rival

WeWork Inc.’s former New York headquarters spot has been taken by a coworking competitor, Industrious.

Tower 49

Source: Aaron Fedor

Industrious said it signed a 10-year agreement to manage office space at Tower 49 in midtown Manhattan, where WeWork used to have its headquarters. Industrious will oversee roughly 240,000 square feet (22,300 square meters) of space across 16 floors at Kato International’s 12 E. 49th St.

The move comes after WeWork won court approval to exit bankruptcy, helping the company shed billions in debt and let go of money-losing leases across its massive office portfolio.

Industrious takes a different spin on the business, ...