San Diego’s coworking spaces have grown consistently over the past eight years and are expected to increase again this year, according to the latest report from Cushman & Wakefield on coworking and flexible workplaces.
“San Diego has more than 1.5 million square feet of coworking space across 107 locations as of June 2019, which marks a significant increase of 1.2 million square feet over the last eight years, having averaged 25 percent year-over-year growth during that time,” Jolanta Campion, Cushman & Wakefield’s director of research in San Diego, told Commercial Property Executive.
“Continuing to gain in popularity, we fully anticipate for coworking inventory growth to continue ahead, with more openings on the horizon.”
WeWork has nine percent of the coworking inventory in the metro, which encompasses 140,600 square feet across two locations, including an 88,000-square-foot space at 600 B. St. The downtown inventory is expected to grow this year as Regus opens Spaces locations at Makers Quarter and at Kettner & Ash.
San Diego’s coworking spaces represent 1.9 percent of the 80 million square feet of total office inventory countywide, compared to 1.2 million square feet across 90 locations a year ago.
Specialized coworking locations focusing on major industries like life sciences, technology, film production, legal services, nonprofits, medical and supporting female entrepreneurs have taken root in San Diego.
The company has locations in Sorrento Valley, Mission Valley and Carlsbad in the San Diego region as well as Phoenix and Atlanta and also Sweden.