Should Suburban Office Building Owners Consider Co-Working Spaces

Bisnow has a good look at how some suburban office building owners, Creative Co-Working Techniques For Office Owners And Operators, are looking to incorporate co-working spaces into their buildings. The article lists some challenges the building owners and investors can face, but notes that will the rise in popularity of co-working spaces it is something to definitely consider.

Offices in and around cities’ urban cores are adapting to maximize the use of their spaces with creative co-working deal structures, like rolling a co-working firm into the management structure of the building. As demand for co-working increases, office space owners and operators see this as an opportunity to stretch and boost occupancy, although there are challenges in the model.

The general idea is this: Offices typically have extra space to work with that goes unused, which means there is wasted potential in any given building. Owners and developers have begun to include co-working companies as part of the fabric of the building to fill the extra office space, as well unused common space.

Finding creative ways to incorporate co-working space into your existing building or property, might be a great way to lower vacancy and improve tenant amenities. As we’ve written before, we see tremendous growth in co-working spaces in Philadelphia and outside, and even see how mall owners could add co-working spaces.