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Coworking By The Numbers: Stats That Show That Coworking Is Dominating Office Real Estate

2019 stats that show that coworking is not only the new normal, but is also having a great impact on the larger commercial real estate, retail, and hospitality industries


This article was updated in July, 2019

Coworking is the new normal, and it’s here to stay. Not only has coworking revolutionized the way people use and lease office space, it’s also revolutionized the larger commercial real estate, retail, and hospitality industries. 

Over the last 12 months, there’s been an increased influx of REITs, property developers, and hotels delving into the industry in the hopes of adding more value to their buildings and attracting more tenants and clients.

It’s an intensifying race for space, and CRE is shifting the playing field of the flexible workspace industry. Though this is great news for the industry, it presents both challenges and opportunities for existing flexible workspace operators. 


Suggested Reading: “Will CRE Stakeholders Push Coworking Operators Out of Prime Markets?


Like Allwork.Space noted a few months ago, “CRE’s entrance into coworking marks a new era for the flexible workspace industry”, and this is clearly exemplified in the stats below. 

Facts and Figures that Show Coworking is Dominating Real Estate

2019 

Stats taken from the following sources

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CBRE – The Property Value Implications of Flexible Space

Instant Offices – Flexible Workspace Trends – 2019 and Beyond

ICSC RECon’s – Coworking Craze panel

Ropes & Gray – Coworking: A real estate revolution?

Real Capital Markets – Office Investor Sentiment Report June 2019

JLL – Emerging trends in India’s office sector

Colliers International – Changing Dynamics: Implications of New Occupier Profiles for Property Owners

2017-2018 

These stats prove that coworking has disrupted and revolutionized the office real estate market. The flexible workspace industry is pushing the boundaries of CRE, establishing itself in urban and suburban areas, in Grade A buildings and in retail space. What these numbers show us is that coworking works and it will continue to work in the years to come. 

Stats taken from the following reports

Cushman & Wakefield — Coworking and Flexible Office Space: Additive or Disruptive to the Office Market

JLL — Can coworking work at the mall?, Spotting the opportunities: flexible space in Asia Pacific

CBRE — U.S. MarketFlash | Flexing Their Muscles: Flexible Space Provider Leasing Surging

Match Office — 2018 Survey Report

The Instant Group — UK Market Summary: The evolution of flexible workspace

Knight Frank M25 Offices Investment, Development & Occupational Markets Q2 2018

Colliers International —  U.S. Research Report, Top Office Metros Snapshot Q2, 2018

Office Hub — The Australian Coworking Market Report 2017/2018

Savills – New York City office sector Q2 2018

Cecilia Amador de San José

Cecilia Amador de San José, Senior Associate Editor of Allwork.Space, is based from wherever her laptop is. She enjoys traveling and visiting new flexible workspaces. If you'd like Ceci to check out your workspace, feel free to reach out to her at ceci@allwork.space (and send a plane ticket). View all posts by Cecilia Amador de San José

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