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.
Spreading The Tech Industry To Every Corner Of New York City
New York’s Silicon Alley has landed a deal to build a new 21-story hybrid workspace called the NYC Tech Hub.
The space will be home to an incubator, skills training center, and office for technology startups.
The NYC Tech Hub will be the second incubator and office space that focuses on the technology industry, marking a significant shift of office spaces as coworking and flexible offices become king.
Currently, Brooklyn alone has about 30 different types of coworking spaces and now, many technology clusters have been forming in what is being marketed as Brooklyn’s Tech Triangle which are almost certain to become future tenants. Still, Manhattan has proven to be the city’s technological focus.
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So why aren’t other boroughs seeing such growth in this successful sector that are supported by the city? Many nonprofits have worked to broaden the tech skills gap throughout the city, but they are still unable to achieve the scale seen in Manhattan.
There are still ways to incorporate plans for such tech hubs in every borough of the city, such plans for proper office allocation, capital projects, community development, and coworking and incubator creations.
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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.