ThisWeekIn Coworking

Discussions » 💰 Firm pays $79M to drop 165k sqft of office space (🔗 Visit source)

Dropbox reported that they're paying $79M to their landlord under a lease amendment for it's HQ "whereby the company will surrender to the landlord 165,244 square feet of office space and pay an aggregate of $79 million."

The 3-tranche payment and move out definitely signaled to office market observers and insiders that firms are seriously assessing their office space liabilities. The move will save the firm $137M in rent and $90M in common area maintenance fees over the remaining 10-year lease.

What's this got to do with coworking?! Well... for those keeping count that's 148M reasons to make this move, and a very healthy budget for getting their employees into any/every coworking space they'd like to use. ICYMI: Dropbox is already giving their teams access to drop-in and other flex spaces through Desana.

🗞 Back to Week 43, 2023 Newsletter · 🔗 Direct Link · 📰 News & Views · ⏱ Shared 37 days ago.

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