The New Office Model - Ya'll Ready For This?

So I recently learned about a new office space phenomenon that's truly taking over the world - collaborative, shared spaces that allow for community, innovation and services - no matter the size of your company or aspirations, all while on a membership basis.  In particular, one company called WeWork is leading the pack in this exponentially growing niche.

When WeWork was founded in 2010, their mission was to create bright, beautiful office spaces where individuals or businesses could come together to create a cohesive community and grow together.  Particularly in this digital and globalized age, they wanted to give innovators a place to come to work, no matter where in the world, while providing them with whatever means they require to grow.  The result was a membership program that varies depending on a user's requirements, but that provides the services of a full scale office space (and more).  With 211 office locations in 52 cities around the world (in only seven years!), WeWork's user base can be sure to find the work space that inspires them.

WeWork Offices Around the World

Within a business and depending on size and scope, this collaborative, shared office model can provide a) custom space/floors within an office, b) satellite offices, or c) individual membership.

• Dedicated: Exclusive, private, and custom floors to serve as a corporate headquarters. (Ex: Similar to finding your own lease)
• Satellite Offices: Private, flexible office solutions for corporations to house sales, marketing, engineering, and innovation teams in markets around the world. (Ex: Executive office suites)
• Membership: Global access to touchdown space, offices, and conference rooms for business travelers and remote workers.  (Ex: Hotel rooms/business centers, airport lounges, coffee shops)

Pricing can actually be more efficient with this model as it helps to streamline business processes across companies on a global scale.  A full breakdown of pricing is available on the WeWork website with various configurations depending on your business needs. 

With only five WeWork offices located across Canada's hubs - two in Montreal, two in Toronto, and one opening soon in Vancouver - I can safely say this is one sector where the commercial office market is growing, especially as we become more globalized and cloud based.  I would keep your eyes peeled in other markets across Canada, it won't be long until this creates new vehicles for office demand in Edmonton and Calgary, something that is much needed!