Dallas-Fort Worth’s coworking scene has yet to reach the density of more mature markets such as New York, Chicago and Los Angeles, but the number of coworking companies in DFW and the amount of space devoted to the sector is growing dramatically.
The number of flexible office space facilities has roughly tripled from around 50 at the end of 2015 to 140 as of June, according to new research from JLL.
The statistics include executive office suites provided by the likes of Regus and Meridian, incubators and coworking companies. For the coworking subsector, JLL has identified 53 operators in DFW — many of them independent companies with just a single location.
Cushman & Wakefield has identified 60 DFW coworking locations totaling 1.27M SF.
Definitions for shared (or flexible) office space and coworking are blurring somewhat with each offering some of the same or similar amenities. Shared office spaces, sometimes called executive suites, generally offer amenities that include a professional receptionist, private offices and short-term lease agreements.
Coworking, at least in its initial form, provided desk or table space and WiFi, often in a shared room, with options for a dedicated desk or a private office. The concept quickly attracted startups, freelancers and entrepreneurs who paid a monthly fee without the commitment of a long-term lease. Besides the affordability and freedom from a lease, they were drawn to the social aspect of coworking, which often can be found in hip live-work-play environments.