Not All Coworking Firms Are Made The Same
“Coworking is becoming the Kleenex of this industry,” said Scott Marshall, global chief client officer at CBRE. “Whether you’re talking to a buyer, occupier or lender, [people] look at what Industrious, Hana and others are doing in the space and call it all coworking.”
Marshall added that, despite many coworking brands sharing a similar idea, they all run on different models.
For example, Industrious’ senior director of real estate Katharine Lau said that the workplace as a service model has become a more concrete solution for customers, creating some competition between landlords and coworking operators. Industrious has set itself apart by shifting its portfolio to include mostly landlord partnerships, where the provider and the building owner share revenues while reducing overall risks.
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EQ Office’s managing director Charlie Hobey offered a landlord’s perspective, stating that management agreements are ideal because they offer more control over the space. Hobey added that these agreements are seen as collaborative, rather than a legal partnership.
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