How to invest in coworking spaces

The “shared economy” continues to evolve. As a result, a number of companies, regardless of size, are cutting daily operation expenses by testing out co-working spaces in a number of urban markets.

In previous years, co-working companies focused on startup businesses and freelancers. The 2015/2016 Americas Occupier Survey for CBRE Group shows that of the 226 real estate organizations in the Americas, more than 40 percent of these businesses are using shared workspaces.

Howard Tullman, the CEO of Chicago-based nonprofit startup 1871, confirms that the company houses about 500 companies. 1871 is in an office space that is about 150,000 square feet. A number of Fortune 500 corporations are stuck in between office parks and suburbs according to Tullman. He also shares that is can take large companies a few years to establish a location in the midtown or downtown areas of their cities, which can be challenging.

Tullman shares that these companies are more likely to visit WeWork in order to rent a block of space. These companies are freelance or startup companies. These corporations have to find spaces that are between 10 and 20,000 square feet who want to rent office areas for a year or two before making a commitment.

Workville NYC is another one of the shared office spaces that business owners may want to consider. The company is located in New York at 1412 Broadway and is on the 21st floor of the building.

Workville is designed to look and feel like a 5-star hotel, and there are several well-lit and airy spaces for professionals to choose from. There are even office spaces with terrace access and views of the New York skyline and sunset. Workville has lounge spaces, as well as dedicated and open desks. Professionals can take advantage of the common area, which can also be used as a waiting area, and can utilize the cafe area as well to enjoy meals and conduct small meetings.

Workville is even located near a number of NYC attractions like Bryant Park, Times Square, ZipCar and businesses such as inDinero Accounting Services and AlleyBoost.

These are just some of the businesses that are making office space rental easier for business owners, since this trend will likely be around for years to come.