The age of co-working is upon us: WeWork is now Manhattan’s largest private tenant in terms of square feet. For the uninitiated, co-working describes shared office space that can be rented out per desk, on a monthly basis. In some ways, co-working is a natural extension of the sharing economy: The experience is closer to a membership, with office space and perks being largely shared.
According to Deskmag’s Global Co-Working Survey, we’ll see over 10,000 co-working spaces open by the end of 2016. Co-working has become popular, and for good reason: The monthly subscription model allows for added flexibility compared to typical leases that lock tenants into spaces for years at a time. They are often highly curated and well-decorated, and consider themselves to be collaborative communities.