Spaces, an international coworking provider, recently opened its first Louisiana location at Perkins Rowe, adding 18,000 square feet to Baton Rouge’s inventory of shared office space.
Though coworking operators have taken a hit during the pandemic, the market is projected to keep growing worldwide as companies and workers continue to value flexible work arrangements.
“COVID has driven up our membership,” says John Jackson, CEO of Launch Media and founder of downtown Baton Rouge’s Creative Bloc cooperative workspace, which opened in late 2014. “That’s probably because some people are working from home now, and they need a place to get out of the house.”
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Coworking spaces allow freelancers and different companies to share overhead expenses and build comradery. Providers often offer membership tiers that cater to different needs, whether the worker is seeking a private office or just the occasional use of a desk or conference room.
Alisha Monnette is a consultant for community health nonprofits and pharmaceutical companies. She can work anywhere, and she works from home when she wants to, but she’s also a tenant at Legacy on 14th, located on South 14th Street north of Terrace Avenue.
The space is near her home, and she likes the opportunity to interact with others who work there.
“Just being able to see other people actively working as well, it just gets me in the work mode,” she says, adding that she likes having the option rather than being “forced to go into a corporate office setting.”
Research suggests the global coworking space market will grow from $8.14 billion in 2021 to $13.3 billion in 2025. Trends to watch in this market, according to Work Design Magazine, include:
• The continued rise of corporate coworking, as companies de-densify and decentralize their office arrangements and reduce their long-term lease commitments.
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• A pivot to suburbia as part of a plan to lure employees back to the office by allowing them to work closer to home.
• More landlords and property investment groups entering the market.
This story originally appeared in a Dec. 30 edition of Daily Report. To keep up with Baton Rouge business and politics, subscribe to the free Daily Report e-newsletter here.