Co-working is breathing new life into obsolete and vacant retail, and giving landlords some relief. According to a new report from JLL, co-working companies leased a combined 75,000 square feet of vacant retail spaces in Los Angeles last year. Glendale, Santa Monica and Central Los Angeles were key markets were co-working operators turned to retail spaces as a new venue for space. Register Now *May exclude premium content Already have an account? Sign In Now
Obsolete or vacant US retail spaces are ripe for converting into co-working locations, according to a report by JLL. It said such buildings are generally centrally located, offering flexible workers access to shops and restaurants, while at the same time generating revenues for landlords above the standard retail rate. JLL said in 2018 co-working firms leased a total of a combined 75,000 square feet ft of vacant Los Angeles retail space.