2016-05-26-1464293025-2324945-pastedimage02-thumb.png

What’s often forgotten amongst all the focus on coworking, are the much larger, more complex and far more interesting global trends at hand.

With a valuation of more than $16 billion, WeWork’s incredible growth, alongside the emergence of at least 100 other growing coworking brands, proves just how popular shared and flexible office spaces have become. But as valuations climb and the headlines keep coming, we may be seeing the tip of the iceberg for an incredible wave of change coming to the commercial real estate industry.

What’s often forgotten amongst all the focus on coworking, are the much larger, more complex and far more interesting global trends at hand. As growing companies compete in rapidly changing markets, leases have been getting shorter and shorter for years. And landlords, who constantly compete for the best and brightest tenants, continue to load their buildings with amenities and “lifestyle” services.

For example, take into account the transformation of residential tract development to more inclusive community-construction. From baby boomers to millennials, people are increasingly choosing compact, mixed-use communities with reliable, convenient transit systems.The sea change at hand lies within these service layers, as coworking and its implications send ripples into the biggest commercial real estate (CRE) players. In New York, this is already being seen as 180 Maiden Lane undergoes a $28 million renovation to include a 250-seat cafeteria, 150-seat luxury conference room, and brand new fitness facility.

https://www.huffingtonpost.com/entry/digging-deeper-what-cowor_b_10150894

Comment