ThisWeekIn Coworking

Week 7, 2023

29 stories, updates, data sets and market moves you may have missed This Week In Coworking

Discuss TWIC topics & trends with industry leaders.

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πŸŽ‰ Coworking celebrations.

πŸ₯² Thanks for sharing TWIC! #

Huge thanks to Jamie Russo for sharing why they read this newsletter, and why others should to.

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πŸŽ‚ The Village Hive turns 7! #

Huge congrats to Charlotte Kirby and the team, and thanks for all you do (and for being long-time TWIC subscribers)!

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πŸ₯‚ Omni Circle Group officially opens their collab. space #

Michael Odupitan shares that after an 8 year journey that on Feb 27th they’ll officially be opening their Collaborative Workspace.

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πŸ₯‚ from HERE Princeton opened! #

Sneh Kadakia shared an invite to celebrate the grand opening and ribbon cutting of their newest location.

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✊ Coworking impact.

⛑️ UK brand raising funds for aid in Turkey & Syria #

Oru Space share that they’re raising funds through donations on Just Giving and a raffle. I expect there are many others doing similar campaigns, if I’ve missed yours, please do let me know.

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πŸ’° Proptech co contributes $1M to aid in Turkey & Syria #

Yardi shared that they’ve contributed a total $1M to four non-profits working in Turkey and Syria to provide humanitarian relief after the catastrophic earthquake last week. Although Yardi tech isn’t just for coworking spaces, but they do power a large number of flex spaces, and so it’s great to see them monetarily supporting those affected by the recent disaster.

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πŸ“° Coworking news & views.

πŸ‡©πŸ‡ͺ Coworking Festival returns to Mecklenburg-Vorpommern #

Katja Thiede shares a video and post (in German) introducing the Coworking Festibal Mecklenburg-Vorpommern between April 26th and 28th where 25 coworking spaces, retreats and workation locations will open their doors and host local events.

Also in the video are: Nele BΓΆhlig, Mascha Thomas-Riekoff, Martin French, Hannes Trettin, Robert Paul Gardlowski, and Kay Riehn.

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πŸ‘‹ CEO of one of Europe’s first coworking hubs steps down #

More than 18 years ago, Claire Carpenter had a β€˜good idea’ to start a coworking space in Edinburgh, The Melting Pot, and it became one of the first in Europe. After growing it into a thriving hub of currently 300 members, Claire decided to step down as CEO earlier this year to take on another role in the organisation and focus on her other projects.

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πŸ” Furniture co introduces new lockers for hybrid worker. #

SOMA is a new line of office lockers built for the era of unassigned desks and hybrid work by furniture co Pair. They note that the differentiation between traditional lockers (that look like they’re from gyms/highschools) is that they’re badge-controlled and ‘blend into the work environment’.

I’m curious if locker usage is up across your space(s). Let me know in a reply?

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πŸ’» Coworking technology.

❄️ Campaign for coworking this winter #

One Coworking are calling on spaces to join their collective Winter Campaign – "Save Energy. Try Coworking", to raise awareness and create united messaging around how coworking spaces can help people save resources in this cost of living crisis winter.

– Shared by Samantha

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πŸ“ˆ Coworking data.

πŸ₯° The impact of coworking on employee well-being #

The Harvard Business Review highlights the benefits of third places after surveying 800+ employees across various geographies and industries.

They were "surprised" (prob didn’t ask any of you, your members or checkout this newsletter) that 64% found "working from a third space like a coworking as more socially fulfilling than working from the office" and 67% found it more fulfilling than working from home. Other benefits of coworking over office/home were escaping coworkers, meeting more people, respite from office pressures, community, and activities.

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βœ… Take the 2023 Global Coworking Survey #

Deskmag have announced the 2023 Global Coworking Survey. I urge you all to take some time to complete this one, the data they crunch and share is second-to-none and this year they’re also taking a look at some important inclusivity and diversity areas we need to start benchmarking and improving as a global movement.

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πŸ—³οΈ Is coworking a game-changer? #

David Rajakovich shared a poll asking remote professionals if they think coworking spaces are a game-changer.

Of the 131 votes (so far) the options "100%, it’s the future of work" and "Some love it, others don’t" both came in top with 38%, where 15% said "No, it’s just a trend" and 9% said they need to try out coworking themselves. Def also check out the comments.

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πŸ‡ͺπŸ‡Έ Barcelona saw 2x more new coworking spaces than Madrid #

CBRE EspaΓ±a shares an article that even though both cities saw added capacity for 20k workers, Barcelona grew far faster.

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πŸš€ Startups grow over 3x faster when using office space #

Steve Blank shares that James Kim at Reach Capital surveys their portfolio cos to see if office-utilization had any correlation to their growth in revenue. The 37 companies reported that those whose employees come into offices grew 3.5x faster than those who didn’t.

So, if you’re talking to startups as potential members… maybe this is a good stat to drop.

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πŸ’» 36% of tech cos expect to double their flex space utilization #

Billy Hodges shares CBREs latest report looking into the flex office trends for tech companies.

Key takeways: more than a third of tech cos (who responded) plan to double their use of flex space and the three biggest obstacles to further flex space adoption are IT security, data privacy and cultural fit.

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πŸ“Š New report digs into coworking member tenure patterns #

Flexspace Observatory, powered by data collected over the past decade by Nexudus, has released its latest report, providing a comprehensive analysis of member tenure patterns in coworking and flex workspaces across the globe.

Some key takeaways: Virtual Offices have the longest permanence, the avg. stay of office plans is 71% higher than those of Hot Desk plan members, and tenure has increased 42% between 2016 and 2021.

– Shared by Sammy

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🀝 Coworking market moves.

πŸ”₯ NJ market heating up, with 6 new IWG locations #

Wayne Berger shares that IWG are opening 6 new locations in NJ (5x Regus and 1x HQ), adding to their existing 38 Regus locations in the state.

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😲 Hedge fund buys into WeWork debt #

King Street Capital Management has bought into WeWork’s debt which was trading at a deep discount. The firm seems to be snapping up the firm’s bonds ahead of a refinancing deadline in 2025. So pressure’s on.

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😳 Merger creates another 20-site network #

allwork shares news about The Space from Saudi Arabia merging with Vibes to create a 20-space network supporting over 2k members and partners.

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🏦 A reminder that banks are kinda into coworking #

Ben Tannenbaum shares news of Santander has stepped into hosting free workspaces for their customers. In the comments folks point out that banks worldwide are also/already diving in to offer their customers space to work from too.

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πŸ†• Spark Coworking opens new location in Arlington #

Shervonne Cherry shares that the newest Spark Coworking community has now opened in the City of Arlington.

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πŸ—½ Landlord picks franchise operator to takeover existing space. #

John Arenas shares that The Durst Organization have tapped Serendipity Labs to reactivate a 41k sqft flex space (prev. a WeWork) just one block away from Grand Central.

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πŸŽ™ Coworking conversations.

Liz Elam chats with Claire Carpenter about the highs and lows of her 18-year entrepreneurial adventure (so far) on the GCUC podcast.

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Ben Von Drehle joined the Flex Uncensored podcast to chat with Jamie Russo and Giovanni Palavicini about how Root Coworking is thriving in Tulsa.

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πŸ“† Coworking events.

πŸ€– Convo: Marketing tools & automations #

Feb 24: Automating your workflow can increase efficiency, productivity, and help get those mundane tasks off of your plate. What are the best tools and automations that work for coworking space operators?

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πŸ‡¬πŸ‡§ Coworking: Making the most of the space you have #

Feb 27 & 28: The London Coworking Assembly is excited to be a part of the Workspace Design Show, taking place in London on 27 and 28 February, where they’ll be hosting a panel called "Coworking: Making the most of the space you have" ft Marc Navarro, Pauline Roussel, Karen West-Whylie, David O’Coimin and led by Aceil Haddad.

– Shared by Talitha

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πŸ€ GCUC in Chicago #

April 19-21: GCUC North America is a 3-day event in Chicago.

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🌍 European Coworking Day #

May 10: European Coworking Day is now being planned across the industry.

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About This.

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

Newsletters are curated by Hector Kolonas and made available for free via email or this website.

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