June 12, 2019
The latest research by Cushman & Wakefield shows the co-working trend is spreading in San Diego in a significant way. A report titled, “Coworking and Flexible Workplaces” tracks more than 1.5 million square feet of co-working spaces across San Diego.
That reflects a sizable footprint growth of 25%, or 300,000 square feet, from 1.2 million square feet a year ago.
Cushman & Wakefield’s Jolanta Campion says, “co-working space continues to grow at a significant rate, indicating an ongoing and elevated interest from operators wanting to establish a greater presence in our desirable region that is home to many of the diverse types of companies and workers these shared workspaces cater to.
She adds, “And that figure is expected to continue to rise. Notably, more than 1.2 million square feet of existing co-working spaces have opened in San Diego since 2011, an average of 150,000 square feet per year.”
Here are a few key highlights from the report:
– Co-working spaces cover more than 1.5 million square feet across 107 locations, representing 1.9% of the 80 million square feet of the total office inventory countywide.
-The majority of co-working space is now found in Downtown (21%) and Carlsbad (14%).
– Regus operates the most space (19%), with 288,300 square feet across 18 locations followed by Premier Workspaces (10%) with 152,100 square feet across 9 locations and WeWork (9%) with 140,600 square feet in two locations.
*Pictured Kettner & Ash in downtown SD, where Spaces recently took space
For comments, questions or concerns, please contact Dennis Kaiser