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Deals & Dealmakers

Breather taps Cushman to lead major expansion

Meeting and work space network Breather has retained Cushman & Wakefield as its exclusive broker as the company continues its push into major global markets.
There are currently over 110 Breather spaces in North America with over 50 of them in New York City.

Cushman’s Sean Black will lead the team helping Breather scale “at high-velocity” both within existing markets and new markets in 2016.

The space-sharing firm has goals to grow in New York as well as London, Los Angeles, Chicago, Washington DC and Toronto in the first quarter of this year.

SEAN BLACK
SEAN BLACK

The announcement comes on the heels of a substantial funding round of over $20 million last fall, led by Peter Thiel-backed Valar Ventures, and points to Breather’s growth since launching in 2012.

Breather has grown its user base to the hundreds of thousands – particularly with the launch of Breather for Teams in September of 2015, which has been used by top tech companies such as Facebook, Etsy and BuzzFeed.

As the cost of office space continues to rise and workforces become increasingly decentralized, Breather is fulfilling a demand for flexible work spaces, shared by professionals, tech companies, business travelers, remote workers, creatives, and more.
Breather’s early 2016 expansion will introduce it to the European market and dramatically increase the company’s stronghold in North America, growing in both new and existing markets.

“Breather has seen a sharp increase in demand for flexible workspace, affecting professionals, tech companies and real estate owners, alike,” said Julia Davis, director of real estate for Breather.

“We’re thrilled to partner with Sean Black and the team at Cushman & Wakefield to help bring Breather to new markets. Cushman & Wakefield is an ideal partner for us and we’re confident their PCS services, comprehensive knowledge of key Breather markets and deep experiences working with high growth companies will allow us to achieve our goals as we expand.”

Cushman & Wakefield’s Portfolio Services Center, a specialized business unit focused on high-velocity, rollouts and growing portfolios, will partner with Breather to manage the program.

Black has more than 15 years of experience representing tenants across technology, media and publishing to the account.

He has represented WeWork in a total of 500,000 s/f in multiple locations in New York City and DC; Coworkers in a total of 90,000 s/fin three New York City locations; Foursquare for 56,000 s/f and; Business Insider for 40,000 s/f.

“The ability to lease turn-key and stylish on-demand short term meeting space through Breather’s mobile app and variable cost model is altering the face of commercial real estate as we know it,” said Black, executive director of global brokerage for Cushman & Wakefield.

“Breather is the leading micro meeting space provider in the world; their innovative technology has attracted the attention of major commercial property owners who see them not only as a strong tenant but a marketable amenity to their buildings. Our team at Cushman and Wakefield is privileged to have been chosen to work alongside Julia Davis and her team in advising Breather on its North American and global expansion.” ​In addition to partnering with Cushman & Wakefield, Breather has developed an internal real estate team to further identify, source and manage supply for its distributed network.

The team will be led by Julia Davis, with acquisitions managers in each of Breather’s major markets. One of Cushman & Wakefield’s initial projects with Breather will be identifying and securing a New York City headquarters for its growing team.

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