Co-working has quickly become a major demand driver for office space in Orange County
Co-working growth in Orange County started slowly in 2016 but has been quickly escalating since last year.
May 08, 2019
- Co-working growth in Orange County started slowly in 2016 but has been quickly escalating since last year. Since 2016, the amount of co-working space has grown by 44 percent to 1.45 million square feet.
- While co-working locations can be found throughout Orange County, there is a heavy concentration in the Airport Area accounting for 68 percent of all co-working space. Currently, co-working accounts for 1.5 percent of the total Orange County office inventory.
- Co-working operators are expected to absorb 350,000 square feet in 2019. Additionally, multiple new leases are expected to be signed adding to the total occupied square feet.
- Co-working firms are targeting buildings in office hubs that offer onsite amenities while being located near desirable retail amenities, appealing to companies looking for space and individuals requiring a single desk.
Source: JLL Research