Co-working Operators Expand Rapidly in OC

Bob Thagard

The co-working market is finally making a big splash in Orange County. Co-working operators have been active in Los Angeles and San Diego, and now the Orange County market is seeing an increasing demand for co-working space. The market has grown to more than 680,000 square feet. While the market is still said to be in its “infancy,” it is expected to grow thanks to the millennial population and adopting of technology in the workspace. We sat down with Bob Thagard, executive managing director in Cushman & Wakefield’s Irvine office, and Eric Kenas, research director of Greater Los Angeles and Orange County, to talk about how the co-working sector in Orange County has grown.

GlobeSt.com: What is driving the expansion of co-working space in Orange County? Bob Thagard: The strong millennial presence coupled with technological advances utilized by a multi-generational workforce, has placed a much stronger emphasis on on-site amenities and the employee experience in the workplace. Co-working spaces provide resources and infrastructure to a generation that, increasingly, makes their living outside of the traditional office. As companies seek to enhance their workplace experience, co-working facilities have become an attractive concept to both corporations and freelancers alike. This type of flexibility and service is most advantageous for smaller users as well as those looking for a short term commitment.