Snapshots

Coworking remains a robust market as companies continue to take space in a supply-constrained office market

Coworking operators are amongst the biggest occupiers of office space in San Francisco, inhabiting over 3.1 million square feet

August 14, 2019
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  • Coworking operators are amongst the biggest occupiers of office space in San Francisco, inhabiting over 3.1 million square feet. WeWork, Knotel, and Spaces are leading the charge, accounting for more than 95% of the 685,000 square feet leased by coworking operators thus far in 2019.  
  • Tenants in the market for space are feeling the brunt of a supply constrained market, driven by low vacancy rates and a lack of readily available large blocks of space.
  • As a result, tenants are turning to coworking providers as a feasible option to scale and grow, paying a 30-50% premium above market rent for greater flexibility and shorter lease terms.

Source: JLL Research

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