Experts On The Ups And Downs Of Coworking From The City Where It's Most Prevalent

Coworking has disrupted real estate, but is there room for more? Has it reached its peak? And will landlords hijack the concept from operators?

In Miami, 3% of office space is designated as coworking, making it the city with the highest such percentage, according to Cushman & Wakefield Vice Chairman Brian Gale, who moderated the event.

“Literally every single building in downtown and Brickell has a coworking element,” Gale said.

AEI founder Juliana Fernandez said her experience in a coworking space was exciting at first, but became frustrating, with acquaintances always wanting to chat and take coffee breaks.

“One thing is collaboration,” she said. "Another is distraction."

Despite their practical drawbacks, coworking operators like WeWork have become so prolific that they are now facing threats from landlords, who are trying to cut out the proverbial middleman and offer shared spaces and flexible lease terms to tenants directly.

We Work’s general manager for the Southeast, Bobby Condon, contended that his company's model is value-add, and he is not bothered by the competition.

“We’re not just throwing coffee and fruit water at people,” he said. “We are looking to aggressively expand in the next two years.”