The recent COVID disaster has been a catalyst for businesses to reassess their strategy and thinking behind remote work. But outside of infection prevention, is there a real case behind encouraging this 56% of our workforce to no longer plan their lives around their daily work commute?

I argue yes, for the betterment of our mental health, our businesses’ bottom line, and our planet.

While brokers (online, alike) are arguably still dominating the transaction for larger office requirements, co-working operators have a unique opportunity to showcase physical space and human interaction to re-emphasize their brand. And since co-working is, in essence, a product one physically inhabits, these are two pretty convincing value propositions.  

Serviced-office providers offer flexibility to companies in need of office space. These service providers seek investments from building owners to supply the best space, especially when there are high TI costs. Serviced-office providers are in the real estate game, and will negotiate hard to get the best rates to protect their margins. Where can building owners find value in the growing flexible real estate industry?

At dinner the other night with my sister and brother-in-law, they asked me how work was going. When the word co-working left my mouth during my reply, my sister stopped me and asked, "So what exactly is a 'co-working' space"? I was shocked. Who doesn't know what a co-working space is? Neither the lawyer nor the engineer I was staring at across the dinner table did. Then I remembered that I live in my bubble (thank you, techie friends) and A LOT of people have no reason to know what co-working is.

So let me back up and explain, what is a co-working space? And why are they part of an industry to pay attention to?

The co-working industry became part of my life on accident. After 4+ years working in sales/corporate operations/legal at a global technology company, my desire to transition to the real estate industry led me to an interview room in an architect's office in downtown San Francisco. I was interviewed by two leaders of a shared office space enterprise, and they offered me an opportunity to open and manage their first space in downtown San Francisco. How could I pass this up?

What is space? Space can be abstract, meaning it is simply the area in which we inhabit. A company is looking for space to open their new office. A friend is looking for space to start her new painting hobby. Space can be a tangible environment we create through buildings, materials, the outdoors, etc.. Your house can consist of many "spaces" that you curate to create a type of environment. For me, the spot next to our window in the living room is one of my favorite spaces. My Randers armchair, marble and bongo drum side table, Asian-inspired foot stool and ficus tree elevate this spot and make it uniquely my own. Cue Sunday morning tea and Vanity Fair magazine, and I am transported to a blissful state.