Cool Factor Continues to Attract Co-Working Users
Common Desk recently announced its expansion into the Innovation District of the West End neighborhood with Common Desk–Factory Six03, a 18,085-square-foot co-working space.
DALLAS—Co-working became a global phenomenon around 2010, but in recent years, the industry has exploded. Coworking Resources compiled a series of statistics for those curious about the trends, industry insights and future predictions of all things co-working.
For example, there were 306 new co-working spaces opened in July and August 2018, and 169 are located in the United States. A rough estimate of all US spaces opening this year would be slightly above 1,000, according to Coworking Resources.
In addition, Emergent Research published co-working statistics for the coming four years. Emergent forecasts 4,528 co-working space openings in 2018 and 6,219 openings by 2022.
In terms of international growth, co-working spaces are booming. By the end of the year, the number of co-working spaces worldwide will double from 2015’s statistic of 8,900 to 18,900. By 2022, there will be more than 1 million co-working members in the US alone. This indicates that co-working is more than a global trend; it’s an international phenomenon.
Coworking Resources data for July and August 2018 shows that almost half of the new openings represent additional locations from existing businesses or part of larger chains and franchises. This means that while many existing companies are thriving, the majority of the industry’s growth still comes from independent business owners and entrepreneurs entering the market for the first time.
One of those in the existing business category is Common Desk, a Dallas-based co-working company and workday amenities provider. Common Desk recently announced its expansion into the Innovation District of the West End neighborhood with Common Desk–Factory Six03. The 18,085-square-foot co-working space will be the brand’s second location with commercial real estate investment and development firm Granite Properties, and its sixth location in North Texas. Common Desk–Factory Six03 is slated to open early next year.
“The Factory Six03 building has always been one of my favorite buildings in Dallas, and we are excited to expand into this location with Granite Properties,” said Nick Clark, founder and CEO of Common Desk. “As we continue to grow and evolve our branded amenity offerings, we’ve become experts on programming and activating common areas in office buildings. We’re excited to show that off with Granite Properties to provide an unmatched tenant experience.”
Common Desk and Granite Properties will work together to allow Factory Six03 to function more like a hospitality-oriented co-working space. Common Desk will deliver integrated co-working and programming initiatives to which both tenants and Common Desk members will have access including hosted amenities from Factory Six03’s rooftop lounge and food hall. Both companies share the same goals to create innovative workspaces that inspire professionals to be more productive.
“With Factory Six03, we took a 115-year-old historic warehouse and turned it into a modern office space that’s ready to match innovative and creative users in the neighborhood,” said Will Hendrickson, managing director of Granite Properties. “Together with Common Desk, we’ll be able to offer additional amenities that foster a vibrant and productive work environment, attract and retain a wider range of customers, and help them attract skilled talent.”
Common Desk–Factory Six03 will showcase the historic building’s exposed brick, concrete textures and huge factory-style paned windows that allow in natural light. The space will also feature a vinyl record lounge with a large collection of both vintage and current records, an open-air mezzanine and tiered office spaces creating a multi-level atmosphere, a library wall with a built-in book nook, various seating areas, the existing historic brick smokestack from the original building, a wet bar and mosaic tile floors.
“In general, co-working brands perform well in highly educated pockets. Factory Six03 speaks to that–the building itself is a destination for that type of demographic,” Dawson Williams, Common Desk’s head of growth and real estate, tells GlobeSt.com. “Not only do we hope to draw from this diverse group of talent in the marketplace, but the building has already attracted tenants with a strong presence in the DFW region as well as the tech community. Granite Properties has transformed this significant piece of real estate in Dallas’ urban core into what feels more like an innovative startup space but with enterprise companies like Blue Cross Blue Shield of Texas in addition to Sam’s Club, which is an opening an office solely devoted to technology work.”
The top floor of the building features a collaborative lounge and meeting space known as “The Stack,” shared work areas, a shared kitchen and an outdoor patio that boasts one of the best rooftop views of the downtown Dallas skyline. The renovated building has a modern and artistic feel that pairs well with the historical accents such as original exposed brick and the two-story biscuit oven preserved from the original building, making it a true new age workplace.
Additionally, Common Desk has engaged Dallas-based Artist Uprising to curate all of the art pieces that will be displayed in this location. The environment will appeal to anyone wanting to plug into the tech and innovation scene in Dallas, as well as anyone who wants to work from an iconic city building with noteworthy tenants.
“So many of us grew up going to Factory Six03 when it operated as the West End Marketplace Mall. It’s a one-of-a-kind opportunity in Dallas to deliver an offering that’ll be different from any other co-working space in the urban core,” said Clark.
Common Desk turns six this month and currently operates four co-working locations throughout North Texas, covering 70,000 square feet of space, with more openings slated for early 2019. It currently serves hundreds of members across its four DFW locations. Common Desk’s flexible office spaces are comprised of a community of freelancers, small businesses, fast-growing tech companies and enterprise companies. Its portfolio also includes Fiction Coffee and The Gym of Social Mechanics, offering members and guests additional customized amenities that enhance the workday.