WeWork to Launch its ‘Custom Buildout’ Business in Spain

28 March 2019 – Idealista

The US co-working company WeWork is studying the rental of entire buildings in Spain to dedicate to its custom buildout business. The service offers large corporations assets fitted out and managed by the brand. The company is already looking at potential properties in Barcelona.

WeWork now has ten co-working office spaces in Madrid and Barcelona (5 in each city), but its plan is to offer large corporations a new service that would house their headquarters and manage all of their needs, leveraging the firm’s know-how in the office management segment.

According to its business model, WeWork speaks to its clients first to understand their needs and desires. It then searches for the best offers, assumes the risks of a long-term contract and the capital investment, and manages the property for the company on an on-going basis, offering services such as fresh fruit, water and security, as well as events for employees.

In this way, the firm would start to compete directly with stalwarts of the sector such as CBRE, JLL, Savills Aguirre Newman and Cushman&Wakefield.

WeWork already offers this service to several corporates around the world, including Starbucks, Facebook, Adidas, Salesforce, Blackrock and Citi, amongst others.

Original story: Idealista (by Custodio Pareja)

Translation/Summary: Carmel Drake

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