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Coworking Concept in Expansion Mode in Orange County
The coworking trend has spread to Orange County. New research by Cushman & Wakefield reveals the Greater Airport Area is home to more than 62% of Orange County’s coworking facilities. Irvine exclusively houses 57% of such facilities, while Costa Mesa and Newport Beach house 20% and 23% respectively. Although South County represents nearly one-fourth of the total market, nearly half of the submarket’s sites are located in the highly-sought-after Irvine Spectrum.
Cushman & Wakefield’s Bob Thagard and Eric Kenas write that Orange County’s coastal coworking scene may not be as massive as neighboring SoCal markets, such as Greater Los Angeles at over three million square feet or San Diego now at more than 1.2 million square feet, and both still growing, but it is making a bit of a splash now with more than 680,000 square feet across this coastal market.
To put Orange County’s coworking figure further into perspective, its total footprint size is a bit higher than the Greater Downtown Los Angeles area, where coworking companies occupy more than 500,000 square feet, according to Cushman & Wakefield’s latest research tracking data.
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