What is Co-Work Space and Why Do People Like It?

By April 25, 2020 May 1st, 2020 Charleston Office Market
co-working

Not all commercial real estate projects are targeted towards rentals, retail, or traditional office space. Another alternative that has risen to the surface is a less traditional office space layout designed for co-working space. 

Many workers and companies alike now shun the idea of a traditional office environment. But, sitting at home may not be the ideal solution either. If you are considering co-working space for your next project, here is what you need to know about them and some of the reasons that these spaces make sense. 

The Basics of Co-Working Spaces

Co-working has become an expanding trend in recent years. More and more workers telecommute or step away from corporate life entirely to either freelance or start their own small businesses. At the same time, many are finding that working from their living room or a home office isn’t all it’s cracked up to be. 

According to SmallBizGenius, roughly 3 million people are working in co-working spaces, and there are more than 80 million square feet of flexible workspace in the U.S. alone. These types of workspaces are projected to double in number by 2022, making it a high-growth market. 

Why a Co-Work Space Makes Sense

A home office might sound ideal, but this setup has plenty of drawbacks. While a worker will need to pay to use a co-working space, many are finding that the minimal cost is worth the various potential benefits. 

1. Increase in Sales

There is a higher level of professionalism that comes with co-working spaces. Most have receptionists that will answer your “business” phone, and you can generally get a business mailing address to include in correspondence and marketing materials. 

If you need to meet with a client, you can use one of the meeting or conference rooms for this purpose. Having these features available can help a business increase its sales. 

2. Boost Productivity

It’s easy to get distracted when working from home or a noisy coffee shop. When you go to a co-working space on a regular schedule, you’re likely to be more productive and more creative. A professional space that is charging a small rent also gives the tenant some accountability and incentive to “get down to business.”

3. Networking Opportunities

Online networking has its uses, but it’s not a complete replacement for meeting others face-to-face. Co-working spaces give freelancers and entrepreneurs the opportunity to network and build their business. A lawyer might meet a marketing professional or freelance writer that can help them build their business and vice versa. 

4. Useful Amenities

We already mentioned the receptionist and mailroom features of some co-work spaces, but there’s more. Some offer free caffeinated and non-caffeinated beverages to tenants. A few other popular amenities that you might find include:

  • Coffee shop or cafe
  • 24-hour access
  • Wired and wireless internet
  • Copy and print center
  • Sit-to-stand desks
  • Wellness/nap rooms
  • Yoga and fitness centers

Interested in Designing or Building a Co-Working Space?

Carolina Services Inc. (CSI) is Charleston, SC’s premier commercial construction provider. If your company sees the value in creating a co-working space in the Charleston area, we offer full-service commercial design, construction, tenant up-fit, and maintenance services. 

Contact us now to start a conversation about how our services can help with your upcoming project.