Communal office spaces – like Atlanta’s Industrious and StrongBox West – have been popping up all across the country. Some industry leaders are comparing this trend to a similar bubble and subsequent bust back in the early 2000s.
However, Randy Holmes, principal at Seven Oaks Company, thinks there are significant differences between the two. “Unlike the 2000s, these co-working facilities cater way more to target markets in terms of amenities and environment, as opposed to cookie-cutter temp office space.”
Though concerns about this trend are still valid, Randy believes these well-conceived centers will significantly reduce the risk of re-leasing this time around.