Senior Vice President, Cambridge leasing team
From WeWork to Workbar to the CIC to Regus and LabCentral, coworking spaces continue to grow in Boston and Cambridge. And for good reason. Demand for coworking space doesn’t seem to be slowing down. With so many growing companies looking to tap into Greater Boston’s rich pool of talent and call the area home, and space in Cambridge and Boston continuing to become more expensive and limited, shared space can often be the right place for these emerging companies to locate.
It’s often cheaper than having their own office, offers a host of amenities, presents great opportunity for community and collaboration, but, most importantly, coworking space offers significantly more flexibility than a traditional lease in this market. Flexibility is key for these growing companies as they navigate what they will look like as a team, brand, and business over a 12-36 month period of time.
The US coworking industry now totals 27 million square feet, and the pipeline of potential customer demand is only expected to increase. Boston, along with New York, Chicago, Los Angeles and Atlanta make up the top 5 coworking markets across the country.