SAN DIEGO—Spaces' company motto is “success breeds more success,” so the firm chooses to enter markets where there is innovation happening in industries of all kinds, VP of development Michael Berretta tells GlobeSt.com. The company's Spaces University Town Center, an open-office, flexible, co-working environment, opened here in October, its first in the San Diego market.
According to Berretta, proximity to UC San Diego contributes to the its entrepreneurial vibe and provides ready-access to talent and research needed for growing businesses. This is the seventh Californian and 15 North American location for the Amsterdam-born brand, which has plans for at least 20 new properties by the end of 2018. The new San Diego location adds to Spaces' growing roster in Southern California, that currently has office spaces throughout Los Angeles and in Santa Monica.
Spaces workplaces are designed to integrate lifestyle into work and offer concierge-level hospitality services. Highlights of the new space include over 200 dedicated desks, two meeting rooms, a 2,316-square-foot business club and regular networking and client appreciation events, including Tedx Talks, which bring TED-style events hosted by community residents to Spaces locations worldwide.
We spoke with Berretta about how co-working businesses like Spaces strategically place their locations and how the connection to a major university fits in with that strategy.
GlobeSt.com: How are co-working businesses being strategic about where they locate their space?
Berretta: Flexible space is a growing industry, and we're seeing demand for it all over the world in large cities, mid-size cities and even suburbs. Our company motto is “success breeds more success,” so we choose to enter markets where there is innovation happening in industries of all kinds. Our strategic plan is to create a network of locations so that businesses and individuals can take advantage of the synergy of a global framework of locations in which to work, share ideas and grow.
GlobeSt.com: How does a connection to a major university fit in with this strategy?
Berretta: Being close to a university bridges the gap between companies looking for young talent and the institution. Proximity to the university contributes to the entrepreneurial vibe of Spaces and provides ready-access to talent and research needed for growing businesses. Many college grads are choosing to launch their own start-ups straight out of university rather than join an established business, so we see opportunity to be a resource for these eager entrepreneurs, too.
GlobeSt.com: Why would a co-working company choose a more-traditional office location versus a retail setting?
Berretta: We offer Spaces locations in both retail locations and more-traditional office locations. Spaces University Town Center is located in the heart of San Diego's most prestigious business district, which places members among many established and thriving businesses in the city.
GlobeSt.com: What else should our readers know about the San Diego location?
Berretta: Spaces University Town Center is our 15th center to open this year, with more than 70 planned openings between now and the end of next year. Our strategic West Coast expansion will include at least five more Spaces centers across the state of California in the coming year, including in San Francisco, Los Angeles and Orange County.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
