Co-working is just getting started

Investors think highly of buildings that include 15%-30% co-working space

In just the last year, co-working spaces have tripled their share of Manhattan’s office-leasing activity to around 10%, according to real estate brokerage firm Avison Young. Across the country, the number of square feet they occupy has jumped nearly 400% over the last eight years. As the market for flexible and customized offices continues to boom, it’s not just startups and small businesses that stand to benefit. More and more, larger companies that don’t want to be locked into decades-long leases are considering the upsides of flexible spaces.

In August, WeWork launched HQ by WeWork to serve the needs of medium-sized businesses. And other giants (think: Amazon, Verizon, and more) have already begun turning to co-working spaces to house entire divisions of their companies. In 2017, IBM struck a deal with WeWork to occupy its 88 University Place building in Manhattan.

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