One of the world's largest operators of temporary office spaces is debuting its private-club-like co-working operation in Atlanta.
Switzerland-based International Workplace Group, the parent company of Regus and Spaces, signed a 32K SF lease with OliverMcMillan to open the first U.S. location for its No18 co-working brand. The high-end, flexible workspace operation will sit among the luxury retail shops of OliverMcMillan's The Shops Buckhead Atlanta development in the Buckhead Village district. It is slated to open this fall.
In its 2017 annual report, IWG described No18 as a “cosmopolitan members' club for businesses,” designed with high-end lounge furnishings that are a “blend of workplace and residence.” The division, which started in Stockholm in 2012, now has more than 170 member companies, according to its website. The Buckhead Atlanta location will be the brand's third worldwide, and first outside of Sweden.
In the heated world of co-working, No18 is the latest example of operators beginning to niche toward particular demographics and groups, Cushman & Wakefield Director Lawrence Gellerstedt said. Gellerstedt also represents WeWork's leasing initiatives in Metro Atlanta.
“I certainly think the niching concept is something we'll continue to see,” Gellerstedt said.
While the Buckhead office market has been a nexus of financial service and other professional service firms, the Buckhead Village area has more been a cluster of smaller professional, wealth management and family office operations, he said.