Coworking Provider International Workplace Group Adds 17 Locations to California
By Nick Trombola July 31, 2024 3:42 pm
reprints
The globe’s leading coworking space provider is about to get even bigger, expanding into the coastal state where the U.S. coworking trend began.
Switzerland-based International Workplace Group plans to add 17 new locations to its workspace portfolio in California, bringing the company’s total number of locations in the Golden State to 196.
The new spaces range from 6,000 to 25,000 square feet, with 95 percent under a managed partnership agreement with building landlords. Such agreements allow local landlords to operate the hybrid work centers with the support of International Workplace Group resources, a company spokesperson told Commercial Observer.
Eight of the new locations will open in Greater Los Angeles and Orange County by mid-2025: 2020 Main Street in Irvine, 320 Pine Avenue and 120 E Third Avenue in Long Beach, 881 Alma Real Drive in the Pacific Palisades neighborhood of L.A., 21 Rancho Camino Drive in Pomona, 23820 Hawthorne Boulevard in Torrance, and 3295 East Main Street in Ventura.
“California is a particularly fast-growing market for hybrid working and we will continue to rapidly accelerate our presence across the state,” Mark Dixon, International Workplace Group founder and CEO, said in a statement.
Founded in Brussels, Belgium, as Regus in 1989, International Workplace Group has amassed some 4,000 locations across more than 120 countries over the past 35 years, including 1,500 spaces in the U.S. alone. The company, which owns coworking brands Regus, Spaces, HQ and Signature, posted its highest annual revenue ever in 2023 at roughly $4.2 billion.
Despite the dramatic lows and highs of other hybrid space company WeWork, interest in coworking spaces is at an all-time high in the U.S. at the moment, the operators say.
National coworking supply grew by 7 percent this past quarter, rising to more than 7,000 spaces across all 50 states, according to a recent industry report by CoworkingCafe.
Nick Trombola can be reached at ntrombola@commercialobserver.com.
