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WeWork Begins Offering Facilities Management Services

April 19, 2017, 9:46 PM UTC
US-IT-SECTOR-TREND-STARTUPS
A man enter the doors of the WeWork co-operative co-working space on March 13, 2013 in Washington, D.C. In a large warehouse-type office in Washington, software coders work on apps, while angel investors and mentors help budding entrepreneurs figure out strategy for their startups, in what is being dubbed Silicon Valley on the Potomac. AFP PHOTO/Mandel NGAN (Photo credit should read MANDEL NGAN/AFP/Getty Images)
Photograph by Mandel Ngan — AFP/Getty Images

Shared office space company WeWork is starting to expand with a broader real estate facilities management service, it said on Wednesday.

WeWork is building on what it calls “on-site services” that began with an unnamed corporate client in Chicago that is reducing its leased space to two floors from three, said David Fano, the New York-based company’s chief product officer.

Fano said the new enterprise was “still not fully integrated, still not real estate services in a box.”

WeWork, the largest leaser of new U.S. office space for the past three years, said it could reduce both costs and time to build an office, while using an in-house design team that will optimize space and create a floor plan that improves employee interaction.

“We’ve got certain beliefs, philosophies of what it takes to make a highly energized work environment,” Fano told reporters at a news conference, “and often times that means reducing your footprint, getting people to work a little more closely.”

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WeWork has become a multibillion-dollar real estate company by offering start-ups communal office for a monthly fee, allowing them to expand or reduce both headcount and number of desks easily.

About 22% of its customers are now companies with more than 500 people, a client base WeWork is targeting for growth potential. It operates in 135 locations spread across 44 cities in 14 countries.