One of the largest challenges facing WeWork, the recently devalued coworking giant, will be establishing profitability at the same time it winds down its growth machine and scales back. | Shutterstock

As WeWork tries to change direction, building owners weigh their options Columbus, Ohio?s Short North District, a hub of retail and commerce, has become a prime target for new development. So roughly a year ago, when local real estate developer Brent Crawford began looking for tenants for his forthcoming 800 North High development, a $45 million mixed-use project in the Short North, it made sense to reach out to the fast-growing coworking giant WeWork. Eventually, his firm Crawford Hoying signed a lease with the startup, with plans to turn 30 percent of the building over to flexible office space. Now that the project is on the verge of opening, how does he feel after WeWork?s implosion over the last few months"
?We couldn?t be happier,? he tells Curbed. ?We?re in a far better position than we were a year ago.?
Crawford?s logic goes as follows: He owns a brand-new building in a great location, as well as easily convertible coworking space WeWork spent roughly $1.1 million upgrading (what he calls ?the best finished office spaces in Ohio?). Crawford?s firm also has a letter of credit from WeWork guaranteeing lease payments for a fixed amount of time. Crawford wouldn?t elaborate further on details, but said ?If they left, they wouldn?t hurt our feelings.? That stan...