WeWork to Determine the Fate of Boston's Largest Office Lease

WeWork Inc. is still undecided about the future of its largest Boston office at One Lincoln St., even after a New Jersey bankruptcy court approved its restructuring. The company must decide by June 30 whether to continue the lease, likely with a reduced space, or to terminate the agreement, which would lead to the location's closure.

Initial Lease and Subsequent Changes

Originally, WeWork signed a 15-year lease in 2018 for 241,000 square feet but later gave up the top two floors of the space. This indicates a shift in WeWork's operational needs and strategy over time.

Impact on One Lincoln St.

Regardless of WeWork's decision, One Lincoln St., owned by Fortis Property Group and managed by Synergy, will experience increased vacancies. The 36-story tower has faced significant vacancies since State Street Corp. left last year. HarbourVest Partners is set to occupy some of the former State Street space in 2025. To attract new tenants, Synergy is enhancing the building's amenities, including the addition of pickleball courts and a cocktail lounge.

WeWork's Presence in Boston

WeWork continues to maintain five other locations in Boston but has closed several others, such as those at 200 Berkeley St., 711 Atlantic Ave., 100 Summer St., and 40 Water St. This reflects the company's ongoing adjustments to its real estate portfolio in response to changing market conditions and its restructuring efforts.