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  • June 2016 (Revised March 2017)
  • Case
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Reworking Office Space: Industry City, Brooklyn

By: Arthur I Segel, Andrew Baum, Nori Gerardo Lietz, Charles F. Wu and Sid Yog
  • Format:Print
  • | Language:English
  • | Pages:26
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Abstract

Jamestown is contemplating how to best lease a portion of their new development along the Brooklyn waterfront, Industry City. The 6 million square foot, mixed-use development is meant to accommodate Brooklyn’s growing innovation, creative, and “maker” communities. Jamestown is intrigued by the recently revived trend of “shared office space,” championed by WeWork and originated by well-known players like Regus. The case is intended to introduce the reader to the shared office market, including the similarities and differences from traditional office space, and explore the underlying trends driving this change, as well as the risks to the business model. Jamestown must weigh the pros and cons of their different leasing strategies, including economic, operational, and reputational, and must decide whether or not to lease the space to a traditional tenant, lease the space to a third-party shared office operator (e.g., WeWork or Regus), or develop their own shared office offering.

Keywords

WeWork; Office Space; Real Estate; Jamestown; Level39; Shared Office Space; Information Technology; Leasing; Property; Strategy; Real Estate Industry; United States

Citation

Segel, Arthur I., Andrew Baum, Nori Gerardo Lietz, Charles F. Wu, and Sid Yog. "Reworking Office Space: Industry City, Brooklyn." Harvard Business School Case 216-075, June 2016. (Revised March 2017.)
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About The Authors

Arthur I Segel

Finance
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Nori Gerardo Lietz

Finance
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Related Work

    • August 2016
    • Faculty Research

    Reworking Office Space: Industry City, Brooklyn

    By: Arthur I Segel and Alexander W. Schultz
    • June 2016 (Revised March 2017)
    • Faculty Research

    Reworking Office Space: Industry City, Brooklyn

    By: Arthur I Segel, Andrew Baum, Nori Gerardo Lietz, Charles F. Wu and Sid Yog
Related Work
  • Reworking Office Space: Industry City, Brooklyn By: Arthur I Segel and Alexander W. Schultz
  • Reworking Office Space: Industry City, Brooklyn By: Arthur I Segel, Andrew Baum, Nori Gerardo Lietz, Charles F. Wu and Sid Yog
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