Atlanta in Top 10 Leading Markets for Coworking Spaces & Square Footage
Friday, March 10th, 2023
Here are our main findings on the Atlanta market:
Atlanta made the top markets with the most coworking spaces, ranking 6th with a total of 187 flexible workspaces.
The market falls on the 7th spot in terms of total square footage covered by coworking spaces – with over 4.09 million sqft.
When looking at the average square footage per market, Atlanta has an average of almost 21,900 sqft.
Nationally, the total allocated coworking space square footage adds up to over 113 million, as per the most recent data, which accounts for 1.67% of the total square footage covered by office spaces nationwide.
Demand for flexible workspaces registered significant growth in recent years, mainly due to the wider availability of remote work and hybrid workstyles. At the same time, the uncertain economic waves led many businesses to downsize their office footprints and move past rigid, long-term leases toward more flexible and cost-efficient solutions. What’s more, according to a recent JLL report, the office sector remains under pressure in 2023, with tenants not only looking to increase efficiency and productivity but also to reduce their existing footprint and positively influence their bottom line.
So, to better understand the current state of the coworking industry across the U.S., this report leveraged the most recent proprietary data to break down the coworking space stock availability in the 25 largest markets, as well as their size and distribution.
National Coworking Supply Surpasses 5,600 Flex Workspaces in March 2023
As of March 2023, the national coworking space stock had reached a total location count of 5,612. As indicated by a recent report, coworking spaces have made their way not only into bustling urban cores with thriving business districts but also into several trending American suburbs, thereby highlighting once again their rising popularity among today’s workers who are no longer location-bound.
You can read the full industry report here: https://www.coworkingcafe.com/