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Report: Coworking Spaces Common Only in a Few Big Cities

Coworking might be one of the most common buzzwords of the contemporary real estate market, but shared office arrangements are confined to only a few cities in the country.
May 13, 2019, 12pm PDT | James Brasuell | @CasualBrasuell
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Shannon Clark

A new report from CBRE finds that the unequivocal capital of coworking is in Manhattan.

"About a quarter of all coworking space in the country can be found in [Manhattan]," according to an article by Ryan Deffenbaugh.

"The borough's designation as the country's largest coworking market isn't surprising, given that Manhattan is also the country's largest overall office market," adds Deffenbaugh. "But CBRE's report does show how much coworking's rapid growth has been confined to a handful of major U.S. cities."

In all, the top 10 markets for coworking account for 70 percent of all coworking spaces in the country. Some large cities, like Austin, Nashville, and Charlotte, "have not even scratched the surface of this sector," according to the CBRE report.

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Published on Friday, May 10, 2019 in Crain's New York Business
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