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The Proliferation of Co-Working Space
According to a report by CBRE Group, Inc., 40 percent of respondents in an occupier survey said that they are considering co-working office space. As office rents climb nationally, rising 4.8 percent YOY (as of Q315), these spaces offer both a more cost-effective option for tenants, as well as a more desirable environment for workers.
Shared spaces have typically been associated with start-ups, especially tech and creative companies, but now, even Fortune 500 companies are looking into co-working space. Analysts believe that this diverse demand augurs well for the sector to be able to better withstand a downturn.
Georgia Collins, senior managing director of Workplace Strategy, CBRE, notes, “The employees these companies want to attract and retain regard blending work and life as integral to their happiness and success, while innovation is often linked to exposure to new ideas and perspectives.”
