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Washington D.C.-based coworking operator MakeOffices is closing down after facing financial challenges during the pandemic.
According to COO Josh White, falling membership rates, increased terminations and a tumble in revenue made operating the workspaces incredibly difficult.
The firm recently notified members at three of its locations that they would be shutting down and transferring management of the coworking spaces to JLL and other operators.
JLL will take over at MakeOffices’ flagship location at The Wharf and will transition the office space to unknown new branding. Memberships, staffing and payments will remain active and transition to JLL on Feb. 1.
During its momentum prior to the pandemic, MakeOffices brought on commercial real estate veteran Jeffrey Langdon as CEO to help the company scale.
“Jeff’s job was to scale the business, and once we came to the realization that wasn’t going to be possible given the financial constraints the business was undergoing because of the pandemic, the decision was made to focus on unwinding in a way that prioritized continuity with members and landlords,” said White.
MakeOffices is just one of many coworking companies that has struggled since March of 2020 after worldwide lockdowns caused people to flee their offices and work from home indefinitely.
