As the coworking space industry expands at a rapid pace, major operators such as WeWork are continuing to take up buildings in core markets, leaving some areas to be underserved. Now, other players are entering lesser-explored markets to provide the same amenities found in high-energy cities across the country.
Serendipity Labs is just one of those firms who hopes to reach out to clients in the suburbs and secondary cities. Chairman & CEO John Arenas said that the company focuses on offering upscale workplaces with high-end hospitality and services.
The firm runs on a business model similar to the hotel industry, which keeps the operating company investment and real estate investment separate. Such agreements can include a lease, joint venture, a revenue share lease or a management contract.
Arena said that his company differs from others in the market by being more of an extension of the workplace for established companies.
The firm focuses on meeting strict standards for data security, personal safety, confidentiality and regulatory compliance that most enterprises require.
In regards to the company’s expansion, Arenas said that they look for areas with strong trade area demographics, higher education, and high walkability scores. Places that are close to entertainment, dining, and fitness can help members improve their quality of life.
“Short and long term, our goal is to provide members with inspiring places to work that help them reach their full potential as individuals,” said Arenas. “We want to continue to be part of our communities by hosting art exhibits and local business events.”