Allwork.space, the online news publication, focuses on news, trends, tips and insights from the flexible workspace industry. This week they focused on Workville – how we built our share of the coworking space industry, and how we’re staying ahead of the coworking trends.
- The commercial real estate landscape is changing quickly, and coworking operators must adapt to stay ahead of the curve.
- Two diametrical companies that are doing just that are WeWork, and the independent coworking space Workville.
- Here’s how these two brands are finding new ways to accommodate the larger office needs of their coworking members.
It can be difficult to zig when others zag. Some coworking spaces have done two or three real estate deals and made a few bucks. Others have done hundreds of deals and now control large percentages of urban markets. But if there’s been one unifying theme for the entire coworking community, it’s that the commercial real estate landscape is changing and changing quickly.
Coworking operators that want to scale their businesses must meet the needs of their larger tenants who are demanding even larger spaces. Staying small is no longer a viable option if the goal is to be one step ahead of their growing customer needs.
Traditional real estate leases and capital requirements are no longer conducive to larger companies wanting to become agile for their workplaces. Specifically, mid-to-large size companies are shifting how they conduct their business — and it isn’t by signing twenty-year leases anymore. According to Forbes, 81% of executives consider agility to be the most important characteristic of a successful company.
These same companies are eagerly staying away from a real estate industry that is well-known for “restrictions, regulations and a complex bureaucracy of decision making.” According to a recent report by useFYI, 40% of companies with 10,000 employees or more now employ remote workers with high levels of CEO participation.
Coworking operators must now adapt and can take their cues from two companies who are navigating these waters with almost diametrical stories. One is a billion dollar behemoth and the other is a much lesser known but equally as innovative “mom-and-pop” shop.
The first operator is WeWork — once coined as “primarily a landlord for freelancers and companies.” But their recent shift in catering to mid to larger size tenants is something of note — for which WeWork will design, furnish and customize full floors of branded office space. Aptly named “headquarters by WeWork”, it’s a division with a focus on attracting and retaining larger “Fortune 500-ish” enterprises and their employees.
The second coworking operator is New York City based Workville — which is also revamping their space offerings. They started out a few years ago in a crowded market renting out desks and smaller offices for tech startups wanting to access just the right amount of office space for their needs.
“As companies are starting to scale, they need us to be included in their office management — an extension of their team,” added President/COO Sue Bernstock. “It’s more than just helping companies, it’s about forming strategic partnerships so that we take a proactive approach in building an authentic community,” she added.
Alongside WeWork and Knotel (a competitor also positioning itself to become a flexible provider of workspace to larger companies), the smaller, more organic Workville is certainly bucking the trend. The team at Workville plans to open a ground floor, members-only lounge. “Members will have their own private floor and still have the benefit of a welcoming, energetic member lounge to work from throughout the day,” Dashti said.
A theme emerged when speaking to tenants who are employed by larger companies within Workville: their organic growth model is working. “Workville has the flexibility of a coworking space, but if I need to scale — they are here to help,” said Larry Lowe, the head of Sales for Job Today, an app-based job-seeking company headquartered in Luxembourg, Germany.
Although coworking companies make up 18% (up from 6% in 2017) of all real estate deals in Manhattan, there are still some instances with tenants growing at breakneck speed where coworking spaces have not been able to keep pace. Workville is certainly aware of this issue.
“I’m here to be the face of the business and not here to manage the office,” said Shaka Arnon, the general manager of a larger sports technology startup, WSC Sports. “Last year we doubled in size and ten-fold in the last three years — so we need to keep finding bigger space,” Arnon added.
The saying “Go Big or Go Home” is definitely resonating with WeWork and Workville. Though there are risks to leasing larger and more elaborate spaces exponentially, for some, it’s so far been a proven risk to take.
This article “Go Big or Go Home, Staying Ahead of Workplace Trends” by Adam Greenwald originally appeared in Allwork.space. To learn more about Workville’s coworking space email info@workvillenyc.com.
Workville’s Meeting Rooms offers entrepreneurs, individuals, and small businesses affordable business solutions including meeting rooms, day offices, conference rooms, and coworking spaces. Workville’s full-service meeting rooms and facilities come fully equipped with state-of-the-art technology for all your company’s needs.
If you’re looking for a coworking space that is as agile as you, look no further than Workville. Our office spaces for rent are designed with your brand identity in mind. We have small and large offices for teams of all sizes. Collaborative meeting rooms for all occasions. Membership perks and amenities will elevate your membership experience. Why do a traditional lease, when a shared office can provide flexible terms for any type of company? Book OASIS, our private full-floor corporate event space for daily rental. Your company off-site would be perfect for OASIS. Drop by our midtown location and see why some of the most successful companies rent office space with us. We will make sure to give you a space most appropriate for you. Visit our shared office space today
For more information, reach out to info@workvillenyc.com
Workville’s Meeting Rooms offers entrepreneurs, individuals, and small businesses affordable business solutions including meeting rooms, day offices, conference rooms, and coworking spaces. Workville’s full-service meeting rooms and facilities come fully equipped with state-of-the-art technology for all your company’s needs.
Meeting Rooms and Conference Rooms Hourly Rent
Workville offers a variety Meeting Spaces for teams of all sizes. From Private offices, Conference Rooms and our all-new ” War Room”, We will find the right solution for your needs.
To make a Conference Room rental in NYC, please visit Workville’s Meeting Rooms offers entrepreneurs, individuals, and small businesses affordable business solutions including meeting rooms, day offices, conference rooms, and coworking spaces. Workville’s full-service meeting rooms and facilities come fully equipped with state-of-the-art technology for all your company’s needs.
If you’re looking for a coworking space that is as agile as you, look no further than Workville. Our office spaces for rent are designed with your brand identity in mind. We have small and large offices for teams of all sizes. Collaborative meeting rooms for all occasions. Membership perks and amenities will elevate your membership experience. Why do a traditional lease, when a shared office can provide flexible terms for any type of company? Come drop by our midtown location and see why some of the most successful companies rent office space with us. We will make sure to give you a space most appropriate for you.
For more information, reach out to info@workvillenyc.com
OASIS was created with your privacy, productivity, and your company’s personal goals in mind. Every OASIS floor features your own private floor, open desk workstations, conference areas with 65-inch display monitors, a kitchenette, a lounge, a cafe area, and two private bathrooms and Rooftop access.
Guests can customize their experience with our exclusive catering or choose to do their own. Multiple floors can be booked to accommodate guests of 20 – 75. OASIS is perfect for your on-demand private office, company off-site meetings, brainstorming sessions, training sessions, executive meetings, and professional events, especially filming productions and photoshoots. OASIS Rooftop is perfect for any private gathering or special occasion.
Our Rooftop is perfect for private events. It is said that Rooftop parties in midtown Manhattan are some of the best rooftops in all of NYC. Corporate events and meetings with outdoor space is rare and OASIS offers that with total privacy. See images of our rooftop on our website.
To learn more or make a reservation contact us at info@workvillenyc.com
Workville offers agile offices for rent. As an established luxury coworking space in the heart of midtown, we are a top selection for those in need of an office for rent. We encourage you to drop in a try us out for free! Whether you are looking for office space, individual workspace, temporary working space, coworking space, meeting rooms, virtual space, virtual offices, serviced workspace, coworking office space, coworking community, or collaborative spaces. shared space, shared workspace, shared office space, affordable workspace, workspace, workstation, flexible desks, shared offices, networking spaces, affordable coworking space, affordable office, you name it and we can provide it.
1412 Broadway, 21st Floor - New York City, New York 10018
Info@workvillenyc.com
