Coworking Facilities

Report on coworking highlights tough realities behind new workspaces

Report on coworking highlights tough realities behind new workspaces

Coworking behemoth WeWork earned a jaw-dropping $16 billion valuation, just as the coworking economy nationwide posted a stellar 10 percent growth rate last year. And new, more specialized spaces, including The Wing, a coworking hub for women, have opened, giving freelance workers more options than ever to find a comfortable place to be creative.

While the these new types of trendy workspaces have enjoyed impressive growth, it’s not all good news in the world of coworking. A new report by global planning, design, and architecture firm HOK, Coworking: A Corporate Real Estate Perspective, looks beyond the meteoric rise and offers a sober assessment of the coworking business. The overarching theme is: don’t believe the hype. 

Via curbed.com >

New design space A/D/O to open in Greenpoint, Brooklyn

New design space A/D/O to open in Greenpoint, Brooklyn

Creative hub A/D/O is set to open in Greenpoint with a series of events this fall and will open fully to the public in December. Developed by MINI and designed by nARCHITECTS, it will be the newest space for creative and design professionals in Brooklyn. The facility will also act as a “portfolio project” for the car manufacturing company as it explores “nonautomotive” ideas, as The New York Times reports .

The multi-purpose, 23,000-square-foot space will offer 24 private desks for emerging and established designers, all of whom will have access to studio spaces and an array of design tools and resources to prototype ideas in-house. They will also work alongside URBAN-X, an accelerator for innovative hardware startups that will be headquartered at A/D/O.

Via archpaper.com >

New HOK/CoreNet Global Report Explores Impact of Coworking on Corporate Real Estate

New HOK/CoreNet Global Report Explores Impact of Coworking on Corporate Real Estate

Coworking is one of the fastest-growing sectors of the commercial real estate market. The new report, Coworking: A Corporate Real Estate Perspective, examines the drivers of coworking from the demand and supply sides, the industry risks and implications for corporate real estate, as well as information about the owners, coworkers and centers.

The HOK/CoreNet Global Coworking report highlights the ideas that changing business priorities and the need to attract talented people, reduce real estate costs, improve speed to innovation and increase productivity are driving corporations to consider different workplace models, including on- and off-site coworking.

Via hok.com >

The Co-Working Space Has Evolved

The Co-Working Space Has Evolved

LOS ANGELES—Co-working-style office spaces are evolving to meet tenant demands. Breather is a “network of individual meeting rooms and workspaces,” and it is opening up five new shops in Los Angeles, in Downtown, Hollywood, West Hollywood and Culver City. The office solution is another brand of alternative office spaces for the changing office environment, and illustrates the vast demand for different types of spaces. 

Via globest.com >

This Brooklyn coffee shop charges by the minute rather than by the cup

This Brooklyn coffee shop charges by the minute rather than by the cup

A cafe in Brooklyn is trying out a different kind of payment structure: It's charging per minute rather than per drink.

The cafe, named Glass Hour, opened in Williamsburg on August 26. Customers can consume all the drinks and snacks they want for free, and play the cafe's video games, board games, and foosball. The catch is that they're paying for the time they spend. 

Glass Hour customers check in when they enter, and check out and pay before leaving. The full first hour is fixed at $6 — whether you spend two minutes or 55 — to ensure that grab-and-go customers don't run off with super-cheap coffee. If you just want a quick cup of joe, it's cheaper to go elsewhere; but if you're staying longer than an hour, the unlimited granola bars, candy, tea, and coffee you can grab make that $6 worth it.

After the first hour, you're charged 10 cents a minute, and if you stay longer than four hours ($24), the rest of the time you spend there is free.

Via businessinsider.com >

New CoreNet Global / HOK report explores impact of coworking on corporate real estate

New CoreNet Global / HOK report explores impact of coworking on corporate real estate

The UK Chapter of CoreNet Global, in partnership with HOK’s WorkPlace practice, has released a new report that studies the impact of coworking from a corporate real estate (CRE) perspective. With coworking now one of the fastest-growing sectors of the commercial real estate market, the new report, Coworking: A Corporate Real Estate Perspective, examines the drivers of coworking from the demand and supply side, the industry risks and implications for corporate real estate, as well as information about the owners, coworkers and centres. The CoreNet Global / HOK Coworking report highlights the ideas that changing business priorities and the need to attract talented people, reduce real estate costs, improve speed to innovation and increase productivity are driving corporations to consider different workplace models, including on- and off-site coworking.

Via workplaceinsight.net >

NYC Owners Not Fearful of a WeWork Failure

NYC Owners Not Fearful of a WeWork Failure

New York City landlords have thick skin. It comes with the territory. And that’s why none of them seem too concerned (if at all) about WeWork, even with the rough summer the $16 billion shared-space startup has just put behind itself.

When we asked Larry Silverstein, the chairman of Silverstein Properties, what would happen if the startup flopped, he said, “Oh graces. I don’t know. WeWork is doing very well. They’re in a number of locations with significant investment in each of those locations. I can’t see any reason why they should go belly up. I hope they don’t.”

Indeed, WeWork, which was founded in New York City in 2010, has locations in 83 buildings in 22 cities across seven countries—and will soon grow to 111 buildings in 30 cities across 13 countries. Even though it remains in growth mode—and has even launched its co-living concept WeLive at William Rudin’s 110 Wall Street—how the company will fare through a downturn remains unclear at this point.

Via commercialobserver.com >

WeWork Looks Into The Real Estate Biz

WeWork Looks Into The Real Estate Biz

To further their ongoing goal of delivering co-working and co-living spaces, multi-billion-dollar company WeWork is preparing to launch an investment vehicle to buy its own real estate properties.

This is a major strategic shift for WeWork, which has stuck to a more “asset-light” model that steers away from purchasing any of the physical spaces that it rents to short-term office tenants.

The current model has allowed the once ambitious start-up to avoid massive expenses on up-front capital investments for every dollar of revenue it makes, and it has given them the ability to stay away from dealing with acquisition costs and interest payments on mortgages.

WeWork Vice Chair Michael Gross said the company is in the process of working on a vehicle that would acquire buildings for WeWork and WeLive, in partnership with outside investors.

Via theurbandeveloper.com >

Sizable new Uptown Dallas coworking space has the most perks yet

Sizable new Uptown Dallas coworking space has the most perks yet

Dallas gets a new coworking space this October, and its size and perks suit the Uptown address. The super modern and highly social Spaces Dallas opens at 1919 McKinney Ave. on October 17.

Founded in Amsterdam, Spaces Dallas offers more than just a location to hold meetings or send emails. The company’s culture focuses on creating a community of movers and shakers. This is its first foray into Texas.

“Spaces Dallas will provide an inspiring and flexible environment for the region’s most innovative business leaders to work productively and connect with one another,” says Stephen Farley, Regus CEO, North America, the corporation behind the Dallas debut.

Via dallas.culturemap.com >

A legendary Silicon Valley designer just launched the anti-WeWork coworking space — take a look

A legendary Silicon Valley designer just launched the anti-WeWork coworking space — take a look

San Franciscans without a permanent office space have a new place to get stuff done.

Canopy is a sophisticated new workspace for the "mature" professional, according to cofounder and legendary Silicon Valley designer Yves Béhar. The shared office environment offers boutique style and concierge service to members, who pay a monthly rent.

Béhar insists Canopy is unlike WeWork, the $16 billion "coworking" startup that caters to young techies and startups. It operates dozens of locations worldwide, and any one, cookie-cutter office contains neon signs that read "Hustle," beer taps, and bean bag chairs.

Via businessinsider.com >

COWORKING FOR THE AEC COMMUNITY: IS IT A GOOD IDEA?

COWORKING FOR THE AEC COMMUNITY: IS IT A GOOD IDEA?

I’ve been working out of a coworking space in Washington, DC’s Georgetown neighborhood for the past year. And it has been a very interesting and positive experience.

For starters, the building is gorgeous and the location is wonderful. We can work in the terrace overlooking the canal. The Wi-Fi is reliable. The people are really nice and there are some killer cookies and snacks on Fridays. We have met interesting people around the cafeteria table. We can ask the staff to do some clerical work for us and we only pay a monthly membership.

Via workdesign.com >

New Lab’s Co-Working Space Is An Antidote To The Rent-A-Desk Model That’s Sweeping The Globe

New Lab’s Co-Working Space Is An Antidote To The Rent-A-Desk Model That’s Sweeping The Globe

Shared workspaces have become so ubiquitous in the global urban landscape that WeWork, the defacto face of the movement, now has offices in 12 countries and more than 30 spaces in New York alone. But, in an increasingly crowded market filled with companies like WorkHouse, Projective Space and Ensemble, there’s a new venture in Brooklyn that’s an antidote to the rent-a-desk model that’s sweeping the globe.

Say hello to New Lab: a private working community for hardware manufacturers, particularly in the area of technology, located inside its 84,000 sq-ft former shipyard. ‘When we saw this building’, says founder David Belt, ‘we thought, this is one of the last places in New York where interesting things can happen.’

Via architecturelab.com >

How Co-Working Spaces Can Create Beautiful New Businesses

How Co-Working Spaces Can Create Beautiful New Businesses

Collaborative workspaces don't just save money for startups and solve the problem of an isolating home office, they can lead to incredible new ventures.

Sydney wedding stylist Jessica McLeod was running her own company, Oscar & Ruby, from home in 2011 when the opportunity arose to join a collaborative space.

Marissa Mills, a wedding photographer she had met through a networking group, invited her and another photographer, Nadean Richards, to share a two-level creative space in Alexandria so they could work away from home but not pay through the nose for an expensive corporate suite.

Via huffingtonpost.com.au >

Co-Working Is Evolving Beyond Shared Space

Co-Working Is Evolving Beyond Shared Space

Sharing of HR and admin services, networking parties and encouraging synergies among tenants is the next phase for the growing co-working segment of the office sector, Gensler’s director of workplace Maria Martinico tells GlobeSt.com. Gensler and ICE hosted an event last Thursday titled “Future of the Workplace Ecosystem,” a discussion with local and national industry experts.

Much of the discussion was based on Gensler’s 2016 US Workplace Survey data, which provides a window into the workplaces of “top innovators” as measured by Gensler’s Innovation Index—an average of six tested and validated questions—focused on innovation, leadership and creativity. Top innovators are determined by segmenting respondents into four groups based on their Innovation Index scores and identifying those employees ranking their companies as the most innovative in the sample. By comparing employees with the highest innovation index scores—those in the top quartile or 25%—to those in the bottom quartile, Gensler’s Survey identified a suite of behaviors and spatial attributes that markedly increase innovation.

Via globest.com >

WeWork Raises $260 Million, Capping Off $690 Million Funding Round

WeWork Raises $260 Million, Capping Off $690 Million Funding Round

Shared-office-space startup valued at $16.9 billion in latest funding round. 

One of China’s largest hotel companies is eyeing U.S. office space.

Investors including Shanghai Jin Jiang International Hotels have put another $260 million in shared-office-space startup WeWork Cos., according to people familiar with the matter, capping off a funding round that values the company at $16.9 billion.

The deal brings WeWork’s latest funding round to $690 million. The company completed a $430 million chunk of the funding in March.

WeWork has now raised roughly $1.7 billion in private capital. The latest round, which included a U.S. family office and a mix of new and existing investors, will be used to fund the company’s international expansion, one of the people said.

Via wsj.com >

Women's Workwear Brand Argent, Now Selling At A WeWork Near You

Women's Workwear Brand Argent, Now Selling At A WeWork Near You

When women's workwear brand Argent launched in June, its premise was simple: "Dressing for work doesn’t have to be a mindf*ck." Unlike many brands on the market, Argent has a sassy, irreverent sensibility and is calibrated to speak to strong women who want outfits that will allow them to be taken seriously in the workplace. As such, it promised to make functional clothes for the professional woman, such as blazers with mesh cell phone pockets to peek at messages without actually taking out the device.

Argent started selling online first, but as it gets ready to make a bigger splash in the marketplace, founders Sali Christeson and Eleanor Turner wanted to think outside the traditional retail box. Rather than turning to department stores or boutique retailers, they decided to go somewhere unexpected: the coworking startup WeWork.

Via fastcompany.com >

Tech Trends of 2016: Campus Co-Working

Tech Trends of 2016: Campus Co-Working

Tech firms are playing a significant role in changing the way we work. Tech and start-up culture has long recognized the benefits of co-working spaces and their relationship to fostering innovation. Now, more traditional industries, including media, healthcare and finance, are recognizing this modern work style’s appeal: serendipitous encounters, community, the free exchange of advice/ideas and shared purpose.

The need to attract young talent, along with lack of affordable real estate and the desire to do meaningful work, have contributed to co-working’s increasing popularity. Whether it’s a large corporation installing teams in external co-working spaces or finding like-minded companies to co-locate on their campuses, the goal is the same: to come together to help fuel new ideas, improve products and push the world forward.

Via gensleron.com >

The Co-Workation: The Latest Way To Annihilate Your Work-Life Balance

The Co-Workation: The Latest Way To Annihilate Your Work-Life Balance

Haven’t got time to spare for a vacation? Then why not take your work with you? Or better still, how about a "co-workation," a "combination of a creative business trip and inspirational adventure holiday for location-independent professionals," as Treehugger’s Kimberly Mok describes it.

The idea of mixing work and travel isn’t a bad one. Just this year I spent a couple of weeks visiting family and friends back in Spain. In the middle, I took a week of regular, no-work vacation, but for a half a week either side of that I worked my usual schedule, spending the evenings with friends.

Via fastcoexist.com >

For mom-preneurs, a co-working space with child care hits sweet spot

For mom-preneurs, a co-working space with child care hits sweet spot

The scene could easily be mistaken for a play date, with two moms laying out activities for a few preschool kids in a toy-filled living room.

Yet this is a co-working plus child-care space in Toronto. A small number of self-employed parents, mainly entrepreneurial moms, treat it as a godsend, and they invariably ask, ‘Why didn’t anyone think of this sooner?’

Some have. Although rare, a smattering have popped up in other entrepreneurial hubs, such as Brooklyn, N.Y., London and at least one in San Francisco (which nevertheless closed, reportedly because of high rents). Co-working spaces without child care are common though, catering to those who would otherwise work from home or make do with Starbucks as their Wi-Fi office of convenience.

Via theglobeandmail.com >

Rocketspace and Alchemist accelerator partner up to go international

Rocketspace and Alchemist accelerator partner up to go international

The accelerator and seed-stage fund for business to business startups, Alchemist Accelerator, and the curated co-working community called Rocketspace, have partnered up in a way that should help both expand their influence beyond the San Francisco Bay Area.

According to Alchemist managing partner Ravi Belani, startups admitted to the next cohort of the accelerator will work together in Rocketspace’s flagship location in San Francisco. And they will be able to attain favorable rates on office space there after they graduate.

Rocketspace founder and CEO Duncan Logan said one thing that differentiates his business from the likes of WeWork or newer and regional challengers like Coworkrs in New York or Techspace in England is a kind of admissions process. “It’s not like if you can pay the rent you can be here,” he said.

Via techcrunch.com >