Shift Away From Independently Owned Office

SAN FRANCISCO—“Commercial real estate is a hugely inefficient industry given its size. Companies are forced to sign a long-term lease based on a prediction of what their long term requirements are going to be.” That is according to Duncan Logan, CEO and founder of RocketSpace, a San Francisco-based technology campus that offers shared work space for startups. We recently spoke with Logan on the concept of office-as-a-service, which has growth something like 40% since 2011.

GlobeSt.com: I know that in San Francisco, office-as-a-service has grown significantly and now accounts for almost 1% of all commercial real estate (approx. 700,000 square feet). Tell me a bit about this shift from independently owned office space to the office-as-a-service model and how your firm is involved.