{"id":321186,"date":"2021-08-10T20:53:49","date_gmt":"2021-08-10T17:53:49","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/saks-fifth-avenue-wework-to-open-office-space-in-luxe-stores\/"},"modified":"2021-08-10T20:53:49","modified_gmt":"2021-08-10T17:53:49","slug":"saks-fifth-avenue-wework-to-open-office-space-in-luxe-stores","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/saks-fifth-avenue-wework-to-open-office-space-in-luxe-stores\/","title":{"rendered":"#Saks Fifth Avenue, WeWork to open office space in luxe stores"},"content":{"rendered":"

“#Saks Fifth Avenue, WeWork to open office space in luxe stores<\/strong>”<\/p>\n

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Saks Fifth Avenue\u2019s owner is teaming up with co-working company WeWork to convert some of its retail space to office space as customers continue to do more of their shopping online.<\/p>\n

The luxury department store will open the first SaksWorks spaces in September in the New York metro area, including its flagship store across from Rockefeller Center known for its elaborate Christmas displays. <\/p>\n

According to a Wall Street Journal report<\/a>, the companies will be setting up a shared office space in Saks\u2019 former children\u2019s store on the 10th floor of the building. <\/p>\n

Another SaksWorks space will move into the shuttered men\u2019s store in lower Manhattan and others will open in stores in Manhasset on Long Island, in Scarsdale in Westchester and in Greenwich, Conn., according to the report.<\/p>\n

\"WeWork
Employers or workers themselves rent space from WeWork facilities like this one in New York.<\/figcaption><\/figure>\n

\u201cThe pandemic has changed so much about our lives, including how we
work and where we live. I\u2019m thrilled to join SaksWorks in its efforts to serve the millions of Americans who\u00a0now work remotely from their suburban homes or who find themselves as part-time commuters in this\u00a0hybrid world,\u201d SaksWorks\u00a0President Amy Nelson said in a statement on Tuesday. <\/p>\n

The move comes as the pandemic squeezes the already suffering business of bricks-and-mortar retail. Foot traffic has been down as consumers buy more things online. The pain is especially acute for stores in non-residential areas that rely heavily on tourists and office workers, like midtown Manhattan where Saks\u2019 flagship store is located. <\/p>\n

Saks Fifth Avenue is owned by Toronto-based Hudson\u2019s Bay Co., which owns much of its real estate holdings, including some buildings where it operated the Lord & Taylor department store brand it sold a couple of years ago. <\/p>\n

\n
\"Exterior
Online shopping has cut into revenue from brick and mortar stores.<\/figcaption>
Getty Images<\/span><\/figcaption><\/figure>\n<\/div>\n

Some of the former Lord & Taylor stores will be converted to WeWork managed spaces, according to the report.<\/p>\n

Most of the desks will be on wheels, so the layouts can change. The cost to workers will be $299 a month, according to the report.\u00a0<\/p>\n

WeWork will operate the spaces in return for a cut of revenue but won\u2019t have to pay any rent, The Journal reports.<\/p>\n

\"A
Saks Fifth Avenue Off 5th stores are not currently part of office space conversion. <\/figcaption>
Jeff Greenberg via Getty Images<\/span><\/figcaption><\/figure>\n

It\u2019s not the first time WeWork and HBC have worked together. They struck a deal in 2019 when WeWork acquired the Lord & Taylor flagship building on Fifth Avenue for $850 million and had discussed a plan to open office sharing spaces in the 10-story department store. <\/p>\n

\u201cThere is significant untapp<\/a>ed potential for third-party usage of\u00a0WeWork\u2019s proprietary workplace management technology<\/a>, which, for a decade, has powered how we\u00a0operate, manage and sell our spaces with a member-focused mindset,\u201d WeWork CEO Sandeep Mathrani said in a statement. \u201cToday, with HBC, we take the first step toward expanding our technology platform.\u201d\u00a0\n <\/p><\/div>\n

If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n

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If you want to read more News<\/a> articles, you can visit our News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Saks Fifth Avenue, WeWork to open office space in luxe stores” Saks Fifth Avenue\u2019s owner is teaming up with co-working company WeWork to convert some of its retail space to office space as customers continue to do more of their shopping online. The luxury department store will open the first SaksWorks spaces in September in…<\/p>\n","protected":false},"author":1,"featured_media":321187,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/saks-wework-001-1.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[113833,75786,72139,72869],"class_list":["post-321186","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-8-10-21","tag-office-space","tag-saks-fifth-avenue","tag-wework"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/321186","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=321186"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/321186\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/321187"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=321186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=321186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=321186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}