WeWork and Its New, Big Valuation

WeWork Companies Inc., a New York-based firm that provides shared office space, has been valued at $10 billion, up from $5 billion just six months earlier. Here is the company’s business model: WeWork rents office space, builds it out into a modern, incubator-style space, and then leases it to startups and small companies on a monthly basis. WeWork’s current valuation makes them the fourth-highest valued publicly traded office space provider.

As of June 24th, We Work has received $400 million in capital investment, a great deal of which came from Fidelity Management & Research Co. This high evaluation does not have all conventional office landlords running for the hills. Martin Selig, a Seattle-based landlord with a portfolio containing 4 million square feet of office space, feels that WeWork will provide office space for businesses that will eventually seek out his more traditional office space once they are large enough.

Click here for the full article from The Wall Street Journal, or click here for more Front Street news. 

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Virginia MacKoul

Virginia is a graduate from the University of Florida's College of Design Construction and Planning with a degree in Sustainability and the Built Environment, and a minor in Urban Regional Planning. Virginia joined the Front Street team in 2011, as an intern. Upon graduation, Virginia joined the Front Street team full-time as the Director of Client Services. Ms. MacKoul’s addition furthers Front Street’s continued growth and expansion within Gainesville and other North Central Florida markets. She was promoted to Director of Marketing in 2014 and now manages the firm’s team of interns and oversees all marketing and branding activity. Virginia was born in Boston and moved to Lee County, Florida in 1997. Virginia graduated her high school's International Baccalaureate program and started at the University of Florida with a focus on Architecture. Virginia shares Front Street's passion of giving back to the community and those in need. Virginia's hobbies include photography, cooking, football, movies, music, and spending time with her dog, Brinkley.

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