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Coworking poised to change Valley real estate

Friday, April 5, 2019   /   by Juan Grimaldo

Coworking poised to change Valley real estate

Flexible office space operators keep expanding in the Valley

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(Image: Provided by Novel Coworking)
Novel Coworking, based in Chicago, recently opened a new space in midtown Phoenix.


Is coworking the future in Phoenix?

The Valley is no stranger to coworking spaces, but when the industry’s largest player comes to town, you know it’s reached a turning point.

We learned last month that New York-based WeWork plans to expand its burgeoning Valley footprint with a few floors in a downtown Phoenix high-rise. Executives cited demand as a reason for coming downtown along with previously announced sites in Tempe and the Biltmore area of Phoenix — while still eyeing other locations as well.

Other coworking operators clearly feel the same way as several have cropped up around the Valley in recent years.

With a shifting economy and growing startup culture, flexible office space surely is in demand. But beyond startups, more established businesses may be looking to cut some overhead and that may include the company office as more employees work remotely as technology continues to blur the lines between office hours and off-hours.

Author: Tim Gallen, Digital Editor, Phoenix Business Journal

Keller Williams Realty Professional Partners - The Grimaldo Group
Juan Grimaldo
7025 West Bell Road #10
Glendale, AZ 85308
480-365-8346

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