The recent surge in popularity of coworking business ventures shows continued strength into this year. The states with the most significant growth of coworking establishments are Texas and California. New development of shared working spaces and re-development of existing commercial properties that are easily accessible to professionals, is a trend that reflects the change in the way many work.
The details of success
The evolution of the trend means that successful coworking offerings have added lifestyle amenities such as gyms, dining options, concierge services and multi-family housing. Dallas-based Fuse Workspace, which has a new location in Houston’s City Centre, hopes remote workers get attracted to their amenities and technological options such as a podcast studio that clients can leverage to build their businesses.
Locations such as unused mall space and big-box storefronts are perfect for re-development as coworking spaces, partnered with restaurant, housing and entertainment options.
New development concepts are not only for office employees. The growth of the coworking model has now turned to industrial space offerings for companies looking for flexibility. Adaptability and efficiency in the use of production space and equipment is an attractive factor for companies who want to use equipment without having to make a long-term investment.
A big future
As large corporations realize that they can cut down on leasing expenditures for large portions of their office space, more of their employees will seek value-added coworking spaces. What was once a unique idea has blossomed into a solid addition to commercial property offerings.