Coworking has seen a major transformation over the past few years. In its infancy, it offered freelancers and entrepreneurs a dedicated workspace, but now it offers its short-term lease arrangements to enterprises and beyond.
In Vancouver, iQ Offices Suites expanded its 1055 West Georgia Street location earlier this month, adding a second floor to bring the space to a total of 30,000 square feet in the city.
According to iQ’s CEO Kane Willmott, several tenants in this space are larger companies.
The first floor currently features 56 separate offices, with 11 offices being added to the new space.
“We want them to have an amazing workday,” said Willmott. “I believe this is the future of office space for under 10,000 square feet.”
Still, some experts argue that offering a greater level of service is more valuable than economical use of a space.
“It’s all right there, given you as a service. And so it’s not necessarily cheaper; in fact it’s probably more expensive,” said Wendy Waters, vice-president of research services and strategy at GWL Realty Advisors Inc. “But it’s simpler, and it allows you to focus on your core business, so in the long run it may turn out to be a better value.”