Co-workspace operators are taking up mall and streetfront spaces being left behind by struggling businesses. According to a study by commercial property research and services group JLL, this use of the vacant retail properties is set to grow at an annual rate of 25% until 2023 to reach about 3.4 million sq ft. By comparison, between 2010 and 2017, the average annual growth rate of retail co-working spaces was just 0.9%. The report also found that in some cities, such as New York, San Francisco, Los Angeles, Chicago, Boston, Washington, D.C., London, Paris, Berlin and Amsterdam, there has been a significant increase in the number of businesses offering their
Co-workspace operators are taking up mall and streetfront spaces being left behind by struggling businesses. According to a study by commercial property research and services group JLL, this use of the vacant retail properties is set to grow at an annual rate of 25% until 2023 to reach about 3.4 million sq ft. By comparison, between 2010 and 2017, the average annual growth rate of retail co-working spaces was just 0.9%. Many co-working retail spaces are near to areas where residents have above average incomes, who are likely to be those seeking flexible working spaces.