Flexible Office Space Revisited

Lisa Picard, CEO of EQ Office, describes co-working spaces as “the three F’s…fast, flexible and fun.”  WeWork has introduced WeLive, a co-living concept with existing facilities.  RISE by We, a gym and super-spa concept, and WeGrow, a kindergarten program for children ages two through five at $36,000 annually, per child. (Ouch!)  “New co-working operators tend to take small spaces but with realization of many possibilities for driving revenue 24-7 they may take 20,000 sq. ft. or more and look for features like access to a rooftop or outdoor terraces, free or low-cost parking, transportation hubs and walkability. Eventually, co-working operators will begin taking spaces in retail centers, which would resolve challenges such as expensive parking in central business districts; provide attractive rents due to the demise of some big-box retailers; and expand opportunities for new revenue streams.”