Officebroker.com is rebranding as Officio to move away from the broker model and aid clients in finding long-term solutions, rather than completing short-term goals.
Could The We Company be working for self-interest?
The real estate market is sensitive in that it affects virtually everything around it. For example, if just one property sells for an above market price, the rest of the market will adjust its pricing.
Because of this, a building’s brand can’t stand on its own— it’s either propped up or undermined by the neighborhoods culture.
While properties can be influenced by the image of their surroundings, they can also influence who they rent it to. WeWork is a prime example of this. Their coworking locations bring jobs to specific neighborhoods and influence the environment as a whole.
“The vast majority of WeWork members are new to a neighborhood. Across New York City, Los Angeles, and Chicago, 70%-80% of members did not work in the neighborhood prior to joining WeWork,” according to the company.
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Now, WeWork is trying to capture that same halo effect under its new name, The We Company. The rebranding includes its new initiative “Made By We” that acts as a “new town square.” It offers a central place that includes a retail space and gives members a chance to be apart of a tailored community.
The We Company’s plans inevitably drive up demand for their coworking spaces and gives them the opportunity to take advantage of the glowing after effects.
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JLL research revealed that Dallas-Fort Worth is ranked 12th out of the country’s top 15 coworking and flexible space markets, taking up 3 million square feet of space.
Office provider LABS has launched its 96,100 square foot flagship property LABS House in Bloomsbury, London that features coworking, offices, and full-service dining.
Cool office interiors are ideal at first glance, but looking into a company’s principles, such as gender equality and flexibility, will be the factors that retain talent.
Colliers International revealed the success of the office market last year due to high demand for coworking and tech firms, but predictions for 2019 are uncertain.
Shared office space providers as tenants have become the norm for many landlords and building owners, and now many REITs have adopted coworking as it continues to expand.
Brookfield Properties has teamed up with Convene to spruce up the 73,000 square foot Brookfield Place into a full-service events venue that accommodates up to 500 people.
Many coworking operators pride themselves on massive, rampant expansion, but some industry experts believe this growth could lead to failure and consolidation in 2019.