WeWork in South Lake Union is part of the 1 million square feet of coworking space located in Seattle.
SEATTLE—Despite coworking inventory growth, coworking still accounts for only 1%—47.8 million square feet—of the total 5 billion square feet of office inventory across the 87 markets tracked by Cushman & Wakefield. The firm's coworking and flexible office space report examines coworking and flexible-office trends, and the implication for the commercial real estate industry and its participants.
“Based on current near-term projections, coworking space could easily triple from its current share in gateway markets over the next decade,” said Revathi Greenwood, Cushman & Wakefield head of Americas Research and the report's lead author. “Total inventory could increase to over 5% of office space in many urban markets and as high as 10% in some markets.”
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
