Coworking "still has a place in malls," one CRE expert says, especially as America heads back to an office that's been radically reimagined post-pandemic.
Earlier this fall, Saks owner Hudson's Bay announced that it will partner with WeWork to open SaksWorks coworking spaces in existing department store footprints. The deal will see SaksWorks move into several Saks locations and some that were previously occupied by Lord & Taylor.
JLL research from 2018 examined 75 coworking spaces in more than one million square feet of retail space and noted that 21.3% of those locations were in malls. And "when the pandemic hit, I questioned how much longer we'd be able to use this report since the past year and a half has upended how and where we want to work," said JLL's Taylor Coyne, in a new brief. "My outlook on coworking has already boomeranged and I think there remains a strong case for coworking in retail space as flexibility remains central to how we want to work."
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