Australia-based provider of serviced office space, Servcorp, is planning to double its number of US offices to 22 locations within five years, according to Marcus Moufarrige, the company's COO. Moufarrige said he will relocate to the US by the end of the month to drive the company's growth in the country. The company has already opened a new location at 1 West 57th Street and plans to open another on Fifth Avenue next year. “WeWork has really brought into the spotlight the fact that the flexible workspace is a fantastic solution, particularly for start-ups,” said Marcus Moufarrige, COO and the founder’s son of Sydney-based Servcorp, a leader in serviced office space and meeting rooms in Asia, the Middle East and Australia. Although WeWork targets millennials, the company's precarious lease agreements and rapid short-term expansion could lead companies to select more established office space providers such as Servcorp or Regus.
Australia-based provider of serviced office space, Servcorp, is planning to double its number of US offices to 22 locations within five years, according to Marcus Moufarrige, the company's COO. Moufarrige said he will relocate to the US by the end of the month to drive the company's growth in the country. The company has already opened a new location at 1 West 57th Street and plans to open another on Fifth Avenue next year. Although WeWork targets millennials, the company's precarious lease agreements and rapid short-term expansion could lead companies to select more established office space providers such as Servcorp or Regus.