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%. As millennials start their own families and buy homes outside cities, more retail coworking spaces will open in the suburbs, which already house 55% of coworking spaces, JLL said. 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%. 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