The number of coworking spaces across the country continues to rise, according to the latest research from CommercialEdge.
In its latest office market report, CommercialEdge said that as of the end of February it tracked 7,814 coworking locations in its database. That is up 25% on a year-over-year basis.
CommercialEdge said that coworking spaces totaled 140.1 million square feet in the United States in February, an increase of 15.2% from the 121.6 million square feet of space it traced during the same month last year.
Coworking spaces as a percentage of total office space has jumped to 2%, an increase of 30 basis points year-over-year.
“Flexibility reigns supreme,” said Peter Kolaczynski, director with CommercialEdge, in a statement. “Corporate occupiers are finding coworking to be an increased portion of their real estate footprint, with flexibility in size, terms and pricing to be key benefits. Growth of total operators and in square footage support this.”
According to CommercialEdge, the Midwest region of the United States had 1,121 coworking spaces in February, a jump of 27.7% when compared to the same time last year.
