As companies struggle to deal with changing work models in the office market, a report by CommercialEdge shows the number and popularity of coworking spaces are growing. “Coworking has provided an alternative to the rigidity of both in-office and remote-work models,” it noted. “Coworking as a percent of total office space has increased to 2.0%, up 30 basis points year-over-year.”
Data for February 2025 showed a 25% annual increase in coworking locations to 7,814 nationwide. There was also a 15.2% rise to 140.1 million square feet in the amount of space leased. However, the average size of coworking locations decreased 1,524 square feet to 17,932 – a trend the report predicted will continue as coworking shifts from central business districts to the suburbs.
Currently, the South (33.3 million square feet) has the greatest amount of coworking surface, followed by the West (31.8 million), the Northeast (31.7 million), and the Midwest (21.7 million), which also saw the highest increase in both locations and square footage.
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