501 Boylston St./Image courtesy of Google Maps

WeWork locations totaling nearly 275,000 square feet in downtown Boston and Back Bay would remain open under a motion submitted in the coworking provider’s bankruptcy case.

WeWork submitted motions this week to keep 16 locations nationwide as part of its Chapter 11 bankruptcy reorganization case, including 33 Arch St. and 501 Boylston St.

The company is seeking to emerge from bankruptcy after obtaining $450 million in financing, and has been renegotiating lease terms with landlords for some locations, while seeking court approval to reject leases on others.

The 33 Arch St. and 501 Boylston St. locations are both owned by Nuveen, which manages real estate assets of TIAA.

“Post-bankruptcy, we believe WeWork will be in a solid position to continue capturing demand for flexible work options and continue being an industry leader in building innovative and collaborative workspaces. We aim to harness that success in creating the best experience for our tenants while maximizing returns for Nuveen stakeholders,” said Dave Dyer, director of workplace, retail and mixed use at Nuveen.

WeWork leases represent 29 percent of the square footage at 33 Arch St. and 16 percent at 501 Boylston, according to data by brokerage Hunneman.

WeWork previously sought the approval from the U.S. Bankruptcy Court in New Jersey to reject its existing leases in Boston at One Lincoln, 711 Atlantic Ave., 100 Summer St. and 40 Water St. 

Boston is a “priority market” for the company’s future, a WeWork executive said in a statement.

With thousands of fast-growing startups and a thriving tech scene, we continue to believe in the immense value co-working and flexible office space can bring to local businesses,” Vice President of Global Real Estate Kate Harper said in a statement.

At its peak, WeWork occupied 1.5 million square feet of office space in Greater Boston.

WeWork Plans to Keep Two Boston Locations

by Steve Adams time to read: 1 min
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