Discussions » 🇺🇸 US Flex supply remains stable, despite decrease in national sqft coverage (🔗 Visit source)
Researchers at CoworkingCafe explored the coworking space stock availability for October in the 25 largest US markets, as well as their size and distribution.
Location wise: total flex location count is 6,172 (up 0.15% from Q2), whilst 13 markets saw a decrease in location count (Manhattan saw a 11% dip). Raleigh-Durham & Phoenix did see a 13% and 11% increase respectively.
Sqft-age wise: National square footage covered by flex dropped from 120M in June to 117M in October. Following locations, Manhattan and New Jersey saw 11% less sqft-age, whilst Phoenix saw an 8% bump.
Price wise: Median rate for virtual offices down $125 from $143, while open and fixed desk space remained at $149 and $329.
Brand wise: Regus, WeWork, Industrious, Spaces and Premier Workspace all logged 70% of their portfolios in the top 25 markets. WeWork did see a 17% drop in the number of coworking spaces, going from 217 spaces to 180 in the top markets analyzed.