This Week In Coworking: #33, 2021

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This week we saw a mega Wall Street firm go remote, local spaces thriving, an Indian alliance, vax to access, deep data integrations and more.

๐ŸŽ‰ Coworking celebrations.

๐Ÿ‘ฉโ€๐Ÿ’ป Global coworking perks platform gets new leader.

It’s really exciting that Johanna Voll will be handling the day-to-day operations and leadership of included.co (the global coworking perks platform) moving forward.

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๐Ÿ“ฐ Coworking updates.

๐ŸŽง Who could be the Napster, iTunes and Spotify of CRE?

Dave Cairns paraphrases a quote (I believe) from The Cult of We that compares WeWork to Napster, in that they changed the music industry, but weren’t the market winners – eventuallyย  being succeeded by the likes of iTunes and Spotify.

He goes on to ask whether the eventual winners already exist, or will still be imagined and built?

๐Ÿ‘‰ Read this

๐Ÿ—ž Local paper highlights benefits of coworking for remote workers.

Amy Edelen penned an article about how local coworking spaces are thriving thanks to the influx of remote workers to the Spokane area.

The piece shares how local coworking spaces Liberty Lake Coworking, Niche Coworking and Fellow Coworking are faring, and adapting to the surge in demand.

๐Ÿ‘‰ Read this

๐Ÿ’‰ US meeting & flex operator will require vax to access.

Convene have announced that they will implement a phased vaccination mandate for all employees, clients, members and guests across their 23 U.S. locations.

๐Ÿ‘‰ Read this

๐Ÿค” Is it even worth paying for a coworking membership?

Laura Leavitt digs into whether a coworking membership is worth the money “just to go to work”.

Even though more and more employers are subsidizing or covering coworking membership fees, this post runs over the benefits and considerations for individuals who may exploring whether or not to pay for their own desk space.

๐Ÿ‘‰ Read this

๐Ÿ—ฝ Firm behind the “Fearless Girl” statue goes hybrid.

State Street, a huge asset manager with approx $3.5T under management, have announced that they’ll be closing both of their midtown Manhattan offices to embrace a hybrid working model.

Interestingly, the WSJ reports that whilst NY-based employees are given the option to work from either of their New Jersey or Stamford offices, they “also secured some co-working (sic) space in Manhattan for those who want to use it“.

๐Ÿ‘‰ Read this

๐Ÿšดโ€โ™€๏ธ On coworking promoting sustainable mobility.

The Atlanta Coworking Alliance return with their 5th segment on the local impact of coworking with a look into how these communities build and promote cultures around sustainable mobility – or healthier and more eco-friendly ways to get in/out of work.

๐Ÿ‘‰ Read this

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๐Ÿ’ป Coworking technology.

๐Ÿฆ˜ Workspace booking platform announces data-syncing integration.

Upflex announced their deep data-syncing integration with Syncaroo, introducing two time-savers for their space partners.

Operators who opt for connecting their property management system to their Upflex profiles can avoid manually updating information, and have every booking automatically checked to avoid double-bookings before they’re confirmed.

๐Ÿ‘‰ Read this

๐Ÿ“ฒ Senior corporates are actively looking for workspace tech.

The Instant Group shared a summary of the findings from their Agile CRE ThinkTank that interviewed 35 senior Real Estate, Facilities and HR professionals globally over the last 6 months.

Whilst all 5 top findings were interesting, what caught my attention was the confirmation that the “vast majority of those surveyed are looking for tech options to create a seamless experience for their teams โ€“ in whatever environment they find themselves in”.

๐Ÿ‘‰ Read this

๐Ÿ’ธ Hybrid office platform closes $589k funding round.

The team at Seatti have announced that they’ve raised โ‚ฌ500k in funding, after pivoting from helping individuals find desk space to helping organizations mange the desk space they had or needed.

If you’ve been following TWIC for a while, you’ll know this part of the future-of-work puzzle is heating up rapidly, and will spill demand into 3rd party spaces.

๐Ÿ‘‰ Read this

๐Ÿ—บ Space booking platform shares why they subleased their own HQ.

Eric Shoup shares why Peerspace sublet their HQ, and why he believes other companies should too.

Whilst they’ll use their own booking platform for team meetups and meetings, the post does also share some adjustments they’ve had to make in going remote-first. An interesting read for sure.

This is the same platform we shared had signed a coworking + flights bundle deal with United back in TWIC-41/20. It also follows the trend we’re seeing with industry players like Convene going remote-first (TWIC-27/21).

๐Ÿ‘‰ Read this

๐Ÿ“ˆ Coworking data.

๐Ÿงฎ A financial analysis of WeWork’s second quarter results.

Bill Bennet, who leads Expansive (the third largest flex space provider in the US), shares how he does industry analysis using public numbers.

The post starts by deducing the average revenue per occupied desk and then moves on to analyzing a few scenarios like what 100% capacity would look like financially and how much revenue per desk would need to go up to break even at 85%.

๐Ÿ‘‰ Read this

๐Ÿ‡ฌ๐Ÿ‡ง Landlord-delivered flex expected to see biggest growth.

Alex Hill shares that CBRE UK‘s performance data highlights just how big the opportunity is for landlord-delivered flex workspaces. Aside from this, the report linked is fascinating with key takeaways like recording an avg transaction size of 78 desks in 2021 for flex space and that 30% of these transactions were for out of London.

๐Ÿ‘‰ Read this

๐Ÿ› Post-pandemic trends for Metro DC.

John Andril of Avison Young takes a deep dive into the trends they’re seeing around flex space and coworking in the Metro DC area.

๐Ÿ‘‰ Read this

๐Ÿค Coworking deals.

๐Ÿ‡ฎ๐Ÿ‡ณ 62 Indian coworking firms form nationwide alliance.

The Economic Times reports how local workspace operator Inspire Co Spaces have onboarded 61 coworking operators into its Inspire Network Alliance.

One of the core benefits listed is in allowing organizations to handle billing centrally form usage across 100 locations in 30 Indian cities.

๐Ÿ‘‰ Read this

๐Ÿ’ฐ IWG plans to open in “thousands” of locations.

In this short post, Aayat Ali shares a remark from Wayne Berger (CEO of IWG, The Americas) that following the 40% growth in demand for flex space, the firm is planning to “open offices in thousands of more locations”.

It’s also interesting to see that they’ll be relying on both franchising and landlord partnerships to achieve these goals.

๐Ÿ‘‰ Read this

๐Ÿ‡ญ๐Ÿ‡ฐ Mainland Chinese landlords opening spaces in Hong Kong.

The South China Morning Post reports that even more mainland Chinese landlords are opening coworking spaces as a low-risk route into Hong Kong’s office leasing market.

This local market has seen huge growth, so expect to see more market moves from both local and other regional operators.

๐Ÿ‘‰ Read this

๐ŸŽ™ Coworking conversations.

Caleb Parker chats with Chris Herd from Firstbase about what if workspace product & services went beyond square footage.ย 

๐ŸŽง Listen to this

Bernie Mitchell discusses whether the coworking values need updating, and digs into what’s happening in coworking across Europe.

๐ŸŽง Listen to this

Jamie Russo discusses into why every coworking business should be building an email list.

๐ŸŽง Listen to this

๐Ÿ“† Coworking events.

Discover or share coworking-related events here.

๐Ÿ’ผ Coworking jobs.

Find or post coworking jobs for free here.

About TWIC

ThisWeekInCoworking.com is a weekly newsletter summarizing the coworking celebrations, stories, market moves, tech updates and discussions you may have missed.

It’s curated by Hector Kolonas and available for free via email or this website with topics and trends being discussed Fridays on Clubhouse at 10:30am Eastern.

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