As the coworking industry continues to grow, new business models are becoming more common, such as partnerships in which a landlord teams up with a coworking brand to fill vacant space. When the coworking operator builds out the space and a brand, the space will fill relatively quickly. ”
desks. To meet the growing demand for collab- oration and socialization, consider including a community lounge, conference/meeting/training space, sitting areas scattered throughout the offices and a common reception area. Many suc - cessful spaces also include kitchens, storage and event space. COMMUNITY PARTNERSHIPS. Prior to building or add- ing a flex space to your business portfolio, take time to know your intended business community. Develop relationships with business associations, economic de- velopment professionals, merchants, school districts, libraries, and local politicians. Get concept buy-in from community partners who can benefit from your space. Your involvement with their organizations facilitates community advocates and referral partners for your endeavor. Less than twenty years ago coworking began as a small venture designed for technology innovators. Now a business hub with economic infusion for local economies,
–Yardi Matrix Special Report on Coworking, October 2019
coworking and flex office spaces are an integral compo - nent of the commercial office space ecosystem. With more than two million people working in more than 22,000 coworking spaces worldwide, the value of coworking as an investment strategy offers opportuni- ties and long-term value for investors, operators and the future of the American workplace. • An entrepreneurial consultant for 35 years, Terri S. Turner and Robert L. Curland formed EnCorps Partners, LLC in 2014. Specializing in flex office development and consulting with owners and operators on best practices, the two partnered with building owners to launch and manage properties totaling more than 100,000 square feet. They opened their flagship property, Cowork KCI, in March 2020. A leader in the industry, Turner serves as President of the Kansas City Coworking Alliance.
80 | think realty magazine :: november 2020
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