Real Estate Managers Get on Board with Co-working Model

Under an agreement reached in November 2016, Microsoft’s out-of-town salespeople may use any of WeWork’s New York City facilities, including the Financial District space.

ATLANTA—Corporate real estate managers are quickly getting on board with the concept of co-working space, according to a survey by CoreNet Global and Cushman & Wakefield. A majority of respondents worldwide said they’d lease co-working space to help manage their organizations’ real estate needs, joining Microsoft, GE, Salesforce and other large-scale adopters of a concept popularized by tech startups.

Fifty-two percent of respondents in North America said they’d lease co-working space, with 50% of Central and South American respondents and 56% of Europeans saying the same thing. In the Asia Pacific region, 70% endorsed the co-working model.