New Era In Commercial Real Estate? Amazon Taps We-Work For Expansion Of Office Space In London

• Amazon.Com, Inc (NASDAQ: AMZN) has agreed on a deal to take space from WeWork Inc (NYSE: WE) at a City of London office building.

• The e-commerce firm will occupy about 70,000 square feet at Moore Place, which WeWork recently refurbished, Bloomberg cites knowledgeable sources.

• The space can acclimate about 1,000 people, and the deal includes an option to take on more space in the building.

• Amazon eyed an expansion of its London office footprint before the pandemic broke out in 2020.

• The pandemic prompted the company to shelve its plans.

• Amazon has remained committed to office-based working as opposed to remote work.

• Amazon’s London footprint includes High Holborn and Principal Place buildings, where the City of London’s northern border meets Shoreditch, traditionally a famous district for tech start-ups.

• Price Action: WE shares are trading higher by 0.20% at $0.20 on the last check Wednesday.

• Photo via Wikimedia Commons

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