The pun works verbally if a werewolf (literally “man-wolf”) is understood to be a hybrid of man and wolf during the full moon. Instead of changing form into a werewolf, he’s changed form into a warehouse.
Written down, if he turned into a half-man, half-house he’d be a werehouse, and if he turned into a half-man, half-warehouse he’d be a werewarehouse.


















To the extent that it looks like they airbrushed it in afterwards.