Knotel once hoped to be the next WeWork. And as the pandemic rages on, it’s facing similar headwinds as its co-working rival. The flex office provider is looking to trim 60 percent of its 4.8 million-square-foot global portfolio, and slash its leases in the U.S. and Canada from 3.4 million square feet to just 500,000 square feet, Business Insider reported. Knotel’s goal is to lower its rent obligations $15 million per month to $2 million
source https://therealdeal.com/2020/11/11/knotel-may-slash-its-global-portfolio-by-60/
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