Skip Ribbon Commands
Skip to main content

News release

WASHINGTON, DC

Demand for Coworking Space in DC Metro Region Could Grow to 13.5 Million SF by 2021

Creative coworking establishments have grown by 195.9 percent annually in past 5 years


WASHINGTON, March 22, 2016 – The rise of start-ups and the freelance economy have produced a profound shift in demand for office space, with creative coworking establishments such as WeWork and MakeOffices (formerly UberOffices) and incubators such as 1776 and Eastern Foundry growing at a rate of 195.9 percent annually over the past five years in Metro DC.

The U.S. Bureau of Labor Statistics estimates that the number of freelancers, temps, independent contractors and solopreneurs will grow from 30 percent of the workforce today to 40 percent of the total workforce over the next five years.

Assuming Metro DC office-occupying employment remains steady at 1,359,000, and that these freelancers, independent contractors and solopreneurs use 100 square feet per person, the shift could create over 13.5 million square feet of demand among users that would be likely to work out of a coworking establishment.

“Today in the Metro D.C. region you will find just over 1.8 million square feet of shared office space, spread among more than three dozen different coworking providers. If workforce mobility trends continue, and the rise of the freelance economy maintains its trajectory, we could see sustained demand for coworking space over the next several years,” said Scott Homa, Senior Vice President, Research, JLL. 

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 230 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $56.4 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.