WeWork announced plans to keep open a pair of its coworking centers in Boston’s Seaport District and the Bulfinch Triangle as it reduces its real estate footprint.
As the former Wall Street darling prepares to exit Chapter 11 bankruptcy protection, it submitted court filings to retain leases for its 55,851-square-foot location at 200 Portland St. and 32,272-square-foot One Seaport Square center.
The company represents over 55 percent of the income at the 101,000-square-foot 200 Portland St. property, according to research by brokerage Hunneman.
No changes are proposed to the existing terms of the One Seaport Square lease, according to a court filing, while the 200 Portland St. terms are “to be determined.”
In previous filings, WeWork sought court permission to retain locations at 625 Massachusetts Ave. in Cambridge, 33 Arch St., One Beacon and 501 Boylston St. in Boston.
Previously, the company sought court approval to reject leases at One Lincoln, 711 Atlantic Ave., 100 Summer St. and 40 Water St. in Boston.
As part of its bankruptcy reorganization, WeWork has completed its assessment of 97 percent of its real estate leases, and estimates it will save $11 billion through rejections and renegotiations of terms. WeWork said it expects to operate approximately 170 locations in the U.S. and Canada under the reduced footprint.