Globe Street, covering the ICSC RECon’s Coworking Craze panel, reported that coworking spaces in retail properties are expected to grow by 25% per year through 2023. Panelist Preston Pesek, co-founder of Spacious, argued that coworking spaces can help reactivate dead retail space, much like these types of spaces are already doing with restaurants before they open or during slow hours.
Suggested Reading: “Here’s What You Need to Know about Coworking in Malls”
In an interview with Crain’s New York, Ryan Simonetti CEO of Convene, talked about hospitality, industry competition, and industry consolidation. According to Simonetti, “ten percent of all coworking companies will be acquired, merged into bigger platforms or go out of business in the next year.”
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The Real Deal reported this week that WeWork has signed four locations in Manhattan for its headquarters offering. According to the report, the coworking giant inked leases with four APF Properties totaling 110,000 square feet. WeWork changed its headquarters name from HQ by WeWork after Regus filed a trademark infringement claim against the company in October 2018.
Commercial brokerage and real estate services company, CBRE, is thinking about growing its coworking brand Hana in New York, specifically at 3 World Trade Center, according to Crain’s New York. So far, Hana has announced two locations in the US market, one in Dallas and one in Irvine, California.