Small office and cowork space is in high demand! The 1,000 - 4000 square foot office space market is very soft right now.
Have available space in this range which you can’t seem to move? Consider converting it to a cowork space!
What I have learned is that small private offices are definitely where the demand is, not so much open cowork space. However most of the cowork space out there does lack the cool dramatic factor to it that cowork spaces like WeWork are experts at creating. So perhaps local developers haven’t been able to create a product desirable enough to create traction in this market.
Do you work on a cowork environment? If so what are your thoughts and what would you like to see?
Matthew Drouin is a full time real estate investor and REALTOR with 12 years of acquisition, disposition, development and management experience in Rochester, NY.