Critique of the IPO shouldn’t overlook rapid growth within the sector.
Knotel has now completed a $400 million financing, led by Wafra, an investment arm of the Sovereign Wealth Fund of Kuwait.
Like WeWork, IWG operates furnished, serviced offices around the globe that it rents out to companies and individuals under short-term deals and is best known for its Regus brand.
The combination of opportunity zones and shared office space is creating incubators of start-ups and investors in underserved markets.
After WeWork detailed the most complete picture to date of its corporate finances last week, the leaders of some of its main competitors wanted to make a strong point: We are different.
At the cusp of WeWork's initial public offering, investors now have to decide whether the coworking industry has a long growth runway ahead, or whether the market for shared office space is reaching saturation.
When July began, WeWork was building 194,000 desks, had signed leases for 327,000 more and was in negotiations for 724,000 workstations that have not been finalized. The company pegs its total pipeline at 1.9 million desks, more than triple what it is currently operating.
There is no questioning the voracious growth of the sector. Coworking leases in Manhattan increased by 200% last year, according to CBRE, with firms like Knotel, Convene and Spaces all taking space at a rapid clip.
A Metropolis Think Tank panel at SmithGroup's Washington, D.C. office explored the new amenities that property managers are deploying to retain tenants.
As new digital tools and platforms transform traditional ways of working, they’re changing how companies think about - and use - their office space.
Once thought of as co-working offices, now more often referred to as flexible space, for H1 2019 this sector has reached 8.5% of leasing activity nationwide, according to CBRE’s latest research.
Building owners across the U.S. are developing solutions that allow them to capture the growing demand for flexible space.
Since those early days flexible workspaces have come a long way, developing into the classic version we now recognize. But despite the prevalence of the idea of working out of a WeWork that seems to have permeated into today’s office ethos, the industry as a whole is still very young.
Firms are seeing the value in employee feedback as they leverage commercial real estate as an HR strategy.
Office rents are highest in New York, the San Francisco Bay Area, Washington, D.C., Los Angeles and Miami, but rents are growing the most (over the last five years) mostly in smaller tech markets.
Office owners take notice: The use of sensors and data is allowing big companies to reduce their office space by as much as a third.
Texas metropolitan areas have been leading the nation in office construction and have no reason to pump the brakes on future construction projects since demand only continues to grow, a new report from CoStar says.
Building office amenities is frequently referred to as an arms race, and it is taking an increasing toll on landlords.
Demand for flexible office space in Paris is almost double the global average, according to a report by Instant Offices.