Coworking Space May Triple From Current Share

WeWork in South Lake Union is part of the 1 million square feet of coworking space located in Seattle.

SEATTLE—Despite coworking inventory growth, coworking still accounts for only 1%—47.8 million square feet—of the total 5 billion square feet of office inventory across the 87 markets tracked by Cushman & Wakefield. The firm’s coworking and flexible office space report examines coworking and flexible-office trends, and the implication for the commercial real estate industry and its participants.

“Based on current near-term projections, coworking space could easily triple from its current share in gateway markets over the next decade,” said Revathi Greenwood, Cushman & Wakefield head of Americas Research and the report’s lead author. “Total inventory could increase to over 5% of office space in many urban markets and as high as 10% in some markets.”