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A coworking space in Berlin. Coworking is an arrangement in which workers for different companies share an office space. It allows cost savings and convenience through the use of common infrastructures, such as equipment, utilities and receptionist and custodial services, and in some cases refreshments and parcel acceptance services. [1]
Industrious was founded in 2012 by Jamie Hodari and Justin Stewart, two best friends who grew up next door to each other in Michigan, who complained of the low quality of shared office spaces. [1] The founders raised $1 million from 80 investors to open the first location in Chicago in 2013. [3]
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In October 2019, WeWork announced the opening of new co-working locations in Singapore and Manila. [129] Also in October 2019, WeWork abandoned plans to open an office in the U.S. Steel Tower in downtown Pittsburgh. The company had planned to build out as much as 105,000 square feet in the building.
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A serviced office broker will commonly help business center owners and facility management companies to rent serviced office space. Companies offering serviced offices are generally able to offer more flexible rental terms, as opposed to a conventional leased office which may require furnishing, equipment, and more restrictive leases.
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