Major Real Estate Firms Are Entering The Coworking Market

As the coworking industry becomes a mainstream work option for companies large and small, real estate veterans are realizing the necessity of this sector in their spaces. This has led companies, such as Tishman Speyer, to launch their own coworking brands in order to help its tenants meet their needs.

“These trends we are seeing will continue,” said Thais Galli, managing director at Tishman Speyer. “Office space is no longer just a place to work. We are now able to provide space for companies of all sizes.”

Other real estate firms that have entered the field include CBRE and Boston Properties, and this has led established coworking operators to reevaluate how they operate.

Galli said that smaller companies are looking for coworking spaces, while enterprise organizations want flexible offices as part of its real estate strategy and to have regional offices.

Tishman Speyer is able to use its Studio brand to test out new markets without massive costs, accommodate temporary teams for companies, provide a workspace for companies who do not want to worry about management and more.

“Studio’s success is predicated on building a product that addresses a need in the market for beautiful, fun and fully serviced spaces that are also professional and elevated,” said Galli. “We have always had a strong focus on hospitality and we continue to make this a focus throughout our platform.”