Major office space provider IWG has started adopting the franchisor model, pioneered by fast-food company McDonald’s, in its effort to edge further away from WeWork.
Active coworking community expands its footprint
Brooklyn Boulders, a rock climbing, fitness, and coworking company, has leased a 30,598 square foot building in Williamsburg, Brooklyn. The active community has signed a long-term lease for the space that is expected to open sometimes in 2019.
The building will contain urban rock climbing, fitness, art, events, and a coworking space. The new space will be Brooklyn Boulders’ fifth location.
Diana Boutross of real estate company Cushman & Wakefield represented the property owners Jay and Michael Weitzman.
“With Williamsburg being such a vibrant and active community, it’s the perfect location for Brooklyn Boulders new home,” said Boutross. “87 Kent Avenue benefits from being situated among some of the neighborhood’s most popular attractions and steps away from the waterfront.”
Latest on Daily Digest
America’s malls are becoming more and more vacant, but coworking companies are taking advantage of these empty spaces to expand their services in a nonconventional way.
Flexible workspace provider Knotel has once again expanded its presence in central London, signing three new deals across the city totaling 40,000 square feet.
Office Evolution, the nation’s biggest coworking franchisor, will expand its footprint in Mount Pleasant as it continues to cater to small business owners in the area.
Although coworking spaces are often categorized as servicing major cities, tier II cities are having their moment as many startups continue to flood into these areas.
Amy Nelson, CEO of The Riveter, has made it her business to promote inclusivity of women in professional settings while also providing men tools to value gender equality.
A survey of 1,000 WeWork members found that, while some use the space out of convenience, others find the culture to have an effect on their professional identities.
While WeWork is expected to file for an IPO this year, its valuation and recently announced losses have left investors worried about the sustainability of the company.
IWG has started rolling out a franchise model, similar to that of McDonald’s, enlisting franchisees to take the reins in subleasing Regus and Spaces offices to companies.
Chicago-based Novel Coworking has purchased Denver’s 195,753 square foot, 17-story boutique office property Trinity Place in Uptown that is currently 65% leased.