There may be a shakeout coming to the co-working world, with the biggest players rising to the top.
Colliers International Atlanta Senior Vice President Jodi Selvey said at Bisnow's Future of the Office event in Atlanta Thursday morning that the industry could start to see some co-working operators shutter locations in the next 18 months.
“We'll see some of the bigger guys still around and some of the smaller guys not,” Selvey said. “I don't think they're all going to survive.”
To say co-working has exploded may be an understatement. Between 2012 and 2017, the number of co-working spaces worldwide jumped from just over 2,000 to 15,500, according to Statista.
This year, that number is projected to grow to nearly 19,000. And the biggest player in the industry, WeWork, hit a valuation of $20B last year.