IWG brand Spaces has made a name for itself as a pioneer within mixed-use developments and shopping centres
A new trend in the flexible workspace realm is the conversion of retail spaces to chic co-working offices. The opportunities these sites present for developers have been deemed as “significant.”
Part of Spaces’ brand DNA is to find settings in desirable areas of a city that offer the right conditions for fostering a sense of community, and that blend seamlessly with tenants’ lifestyles.
“Typically these locations are either located by convenient transportation hubs or have ample parking, which we know is incredibly important for business professionals,” says Michael Berretta, Vice President of Network Development for IWG in the Americas.
“Additionally, by integrating our co-working space with entertainment and retail, Spaces’ members are able to run their business, get their shopping done and find food options within walking distance.”
Having a range of resources within easy reach – shops, restaurants, entertainment facilities – is a magnet for new tenants. It helps them achieve a better work-life balance by saving time when it comes to ‘life admin’, be it buying dinner for the evening, servicing their technology or shopping for last-minute birthday gifts.
What’s more, according to Spaces, being based at the heart of an extra-curricular hub encourages members to bond with each other. By using and exploring these facilities together, tenants strengthen their relationships. This is in turn cultivates a stronger sense of community back in the shared workspace itself, which is a key pillar of the Spaces brand – and a major factor in tenants’ decision to choose a co-working space.
“Our goal is to create an environment that promotes collaboration and creativity,” says Berretta. “We’ve found that giving our members direct access to adjacent amenities like retail, entertainment and food locations, creates a strong community ‘feel’ as members move around the complex together.”
Spaces is rapidly expanding its flexible workspace locations across the globe, with more than 100 co-working spaces worldwide, with several new outposts announced on a weekly basis.
Spaces will continue to actively explore the trend for setting up co-working offices within mixed-use and retail locations. Spaces recently signed a lease with OliverMcMillan to open the first US location of the real estate developer’s No18 co-working brand. The workspace will be located among the luxury stores of OliverMcMillan’s The Shops at Buckhead Atlanta retail development. Last year, Spaces opened an outpost in Hudson Yards in New York City – the largest development in US history.
