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.
Coworking is not hip, trendy or cool
Martijn Roordink, cofounder of Amsterdam-based coworking company Spaces, has consistently denied that him nor his office space are “hip and trendy.”
Coworking spaces have often been synonymous with cool, modern work alternatives, but Roordink does not want that to take away from the hard work operators put into their office spaces.
Despite all their effort, when Spaces was bought out by the International Workplace Group (IWG), the company continued to face much backlash.
Now, IWG is evidently seeking out prospective buyers for Spaces, but Roordink has yet to comment on these reports.
This is not the first time private equity firms have taken over a flexible office company. For example, Blackstone took a portion of The Office Group in 2017.
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Some property agents and other experts warn that the long-term leases coworking operators take out could be in trouble as they face a possible recession.
Mat Oakley, head of commercial research at Savills, expects some coworking firms to go bust this year and that being seen as trendy will not be enough to keep them afloat.
Regardless, many large companies (think Microsoft and Spotify) are enlisting operators to open offices for them as the sector continues to grow.
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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.