Coworking space provider International Workplace Group (IWG) is planning a notable expansion into California, with a goal to increase its footprint in the state by 17 locations โ tallying its total to 196.ย
The Commercial Observer reports that IWG is scheduled to open these properties by mid-2025. The new spaces will vary in size from 6,000 to 25,000 square feet and will predominantly operate under managed partnership agreements.ย ย
In 2023, IWG focused on expanding its footprint within key international markets โ including U.S. markets. The company has since reported a record revenue of over $3 billion, which marks the most successful year in the companyโs 35-year history. Itโs also worth noting that IWG has been reorienting its U.S. portfolio towards flexible workspaces that are closer to residential areas. In Arizona, for example, the firm announced a similar expansion of 15 new spaces, adding to IWGโs existing portfolio of 46 in the state.ย
The firm now boasts over 4,000 office locations worldwide and 1,500 of these locations are in the U.S. It also transitioned to reporting its financial results in U.S. dollars last year, which maintains rumors that IWG is still considering leaving the London-exchange in favor of the New York Stock exchange in order to capitalize on the higher valuations often awarded to tech unicorns like Snapchat.ย ย ย
Eight of the planned California sites will be in key areas within Greater Los Angeles and Orange County.ย
The company maintains that interest in coworking spaces is at an all-time high in the U.S., reflecting the widespread acceptance of flexible work culture. Companies and professionals alike are increasingly favoring flexible work arrangements and environments that support collaboration and innovation.ย ย
By expanding its presence in California, IWG is not only meeting the immediate needs of todayโs workforce, but it also continues to position itself as a pivotal player in the future of work. The companyโs coworking brands include Regus, Spaces, HQ, and Signature.
