Major coworking space operator WeWork submitted a move to revoke the lease at its Miami Beach facility.
Based in New York, WeWork submitted a motion to the United States Bankruptcy Court District of New Jersey to reject two leases on April 16. One of the leases is in South Beach at 429 Lenox Avenue. The other is in Irvine, California. On May 31, WeWork may terminate both leases, per court filings.
A spokeswoman for WeWork said the company wants to remain at Lenox Avenue, but has to make preparations to exit in case a deal can’t be worked out. WeWork is the sole tenant in the five-story building.
Source: SFBJ