Co-working offices emerged a decade ago as offbeat, bare-boned affairs that served start-ups and the self-employed. But now their appeal has broadened even to mainstream companies. https://lat.ms/2PYGmnH
WeWork now has more than 400,000 members paying for access to 45 million square feet of space worldwide. https://lat.ms/2PYGmnH
Today there is about 4.5 million square feet of co-working space in L.A. About half of that belongs to WeWork, but new competitors are aggressively carving out niches of their own. https://lat.ms/2PYGmnH
One of the most high-profile is The Wing, a co-working company catering to women that opened a branch in West Hollywood. Nearly every detail is oriented towards women’s needs and preferences. https://lat.ms/2PYGmnH
The furnishings at The Wing are smaller. The thermostat is kept at 72 degrees. The attention to detail even extends to the upholstery, with chairs covered in soft fabrics that don’t cling to dresses. https://lat.ms/2PYGmnH
Then, there are support-service firms like Convene, which provides co-working space while also offering hospitality services to the entire building. https://lat.ms/2PYGmnH
When the economy tightens, “not all of these guys are going to survive,” real estate executive Martin Caverly said.
Still, others remain confident that co-working’s disruption of the office market has succeeded and the model will keep growing. https://lat.ms/2PYGmnH
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