Cushman & Wakefield: Philadelphia Coworking Space Demand Surges

Jared Jacobs, Cushman & Wakefield research manager, Philadelphia office

PHILADELPHIA—Philadelphia’s coworking industry had a good year in 2016 in terms of leasing activity, construction and renovation completions, Cushman & Wakefield says. Cushman’s Philadelphia research team released its fourth-quarter 2016 Coworking Space MarketBeat report, which also projects continued demand for coworking office space market-wide through 2017.

“The coworking industry in Philadelphia has grown significantly since 2011,” says Jared Jacobs, Cushman & Wakefield research manager. “In the wake of increased demand by tenants to network and collaborate, the average footprint of occupied coworking space has expanded over the past five years from as small as 3,000 square feet to 17,000 square feet and as high as 56,000 square feet.”