Coworking

The coworking firm will exit around 40 U.S. locations due to not meeting “our design criteria, have obsolescence or… an oversupply in the market,” according to WeWork’s CEO.

According to Industrious CEO Jamie Hodari, the company has plans to expand its footprint across the Bay Area in the coming months.

Serendipity Labs recently moved out of its downtown Chicago location, but suggests that it will expand into the city’s suburbs over the next few months.

IDEA Spaces will open a new location called IDEA Spaces São Sebastião, situated in a 12-story tower that features over 850 workstations.

The William Vale hotel in Brooklyn will welcome in The Malin, a 10,000 square foot high-end, fully-equipped coworking space.

THRIVE will open a new coworking space in Asheville’s iconic Grove Arcade Building, which sits in downtown and is surrounded by the area’s most notable businesses.

Awfis CEO Amit Ramani said that the company’s revenue saw a two-fold jump thanks to the spike in demand for flexible work options.

The firm will once again partner with Industrious, known for its property management agreements, to open a new coworking space at the 3 Houston Center building.

While operators have expanded and landlords dip their toes into the pool, the question isn’t whether flexibility will continue to expand. Rather, it should be asked, “Can money be made?”

Referred to as “capital-light” contracts, the model allows coworking companies to operate and manage spaces on behalf of landlords, then splitting a share of the profits