By 2030, coworking could contribute $4.2 trillion annually to the U.S. economy, save workers 861 million hours of yearly travel time, and decrease carbon dioxide emissions by nearly 100 million combined tons.
The statistics are all part of a recent first-of-its-kind study conducted by Regus, a provider of flexible workspace solutions with North American headquarters in Dallas. The predicted boom in flexible working showed 16 countries delving into the trend — with the U.S. having the largest increase of nearly 7.89 million expected jobs in the next decade.
“As this study shows, flexible working offers significant contributions to society, from giving people more of their personal time back, to boosting the economy via job creation and improved productivity,” Steve Lucas, report author from Development Economics, said in a statement. “These projections show flexible working is a strong economic force that businesses and people should embrace in the years to come.”
Here in Dallas-Fort Worth, it seems that enterprises have already caught on.
As the coworking movement continues to spread, the North Texas region is seeing the wave, with multiple companies — most recently, Common Desk, Venture X, and The Work Lodge — strengthening their presence here.
Last month, Common Desk celebrated its sixth birthday with a coinciding sixth location in the Innovation District at the West End’s Factory Six03. Today, less than a month later, the Dallas-based coworking and workday amenities provider continues that momentum, announcing a seventh office space in Addison’s new FOURTEEN5 Office Park.
The Common Desk – Addison coworking installation was born out of a partnership with Dallas-based commercial real estate firm Cawley Partners, the brand’s first location to do so, according to a release. Expected to open in the spring of next year, the 26,500-square-foot two-floor coworking space will feature private offices, team areas, shared and dedicated desks, flexible work environments, and game and cocktail lounges.
“We’ve heard so many requests to bring Common Desk to the Lower Tollway/Addison area over the years,” Nick Clark, founder and CEO of Common Desk, said in a statement. “FOURTEEN5 is a visionary project with a robust amenity set, and it provides the perfect space for our exciting entry into Addison.”
A courtyard, three-story amenity building, full-service restaurant, fitness center, covered terrace, and conference facility all sit on the property, with additional amenities for members and tenants available. Situated off of the Dallas North Tollway, Common Desk – Addison will sit in phase one of the office park, a space that is already 92 percent leased.
Clark said the Common Desk and Cawley teams plan to collaborate to make the elite building “even more special.” Both companies intend to create an unmatched experience for coworking members and building tenants.
“We’ve seen the caliber of space Common Desk delivers and the types of tenants this rapidly-growing coworking firm attracts,” Jeremy Duggins, Cawley Partners project leasing manager, said in a statement. “With Common Desk, we’ll be able to provide an innovative environment with unique features that will appeal to current and future FOURTEEN5 tenants.”
And, while Common Desk’s North Texas footprint is already pretty big — 70,000 square feet of space big, actually — the company also said more openings are currently slated for early 2019. Stay tuned.
Naples, Florida-based Venture X set its sights on North Texas earlier this year with an inaugural opening near the Galleria, followed by two more locations at Irving – Las Colinas and Plano – Legacy West.
Now, Venture X announced it’s set to open six new communities across the region over the next six weeks — starting today with Uptown Dallas.
Venture X, a coworking concept designed primarily for business professionals and entrepreneurs, is renting the space from Dallas-headquartered real estate firm, Gaedeke Group (which also happened to lease Plano – Legacy West, too).
The Uptown location will be located on the 5th floor of One McKinney, in 22,553-square-feet of private and virtual offices, community areas, and conference rooms.
“Dallas has suddenly become a priority market for expanding coworking operators,” tenant representative Ryan Hoopes, Colliers International, said in a statement. “The demand in almost every D-FW submarket is some of the highest we have seen across the country.”
Recognized by Inc. as one of the best coworking spaces in the U.S., Venture X blends a boutique hotel feel with modern office styles to create shared workspaces with high levels of design. As reported by D Magazine, Venture X aims to set itself apart from its competitors by catering to more high-end professionals. All membership plans come with a package of benefits, with various services offered.
“Across the country, Venture X is focusing on securing sites in high demand submarkets with immediate access to important amenities,” the Venture X franchise owner, Jonathan Ellis, said in a statement. “Uptown Dallas and One McKinney fits that criteria in every way.”
These amenities Venture X offers include: concierge-level member services; secure 24/7 access; Internet high-speed service; copier, scanner, and printer access; fully equipped meeting rooms; café and lounge areas; free coffee, tea, and filtered water; and weekly catered breakfast and lunch. Venture X also hosts weekly events, according to a release, all focused on themes that might help businesses grow.
The Work Lodge
Houston-based The Work Lodge, an all-inclusive flexible workspace concept, is gearing up for national expansion after announcing on Oct. 29 that it had signed its first franchise agreement in Fort Worth. Set to open in March, the 710 South Main St. location will later be joined by a second North Texas operation at 1500 Dragon St. in Dallas.
With two locations underway and two already open (in Houston in Vintage Park and The Woodlands), according to a release, the brand is currently poised for aggressive development.
“As entrepreneurs and corporations search for flexible workspaces, Work Lodge is able to provide our members with a holistic approach by removing the friction of facilities and growth, freeing entrepreneurs and businesses to focus on building their dreams,” founder and CEO Mike Thakur said in a statement.
As a “flexible workspace franchise,” The Work Lodge caters to everyone from startups to Fortune 500 companies. A variety of services are offered, including: coworking, private and virtual offices, conference rooms, and space for teams up to 100.
Each location features custom-made furniture, cul-de-sac hallway layouts, and common areas, all surrounded by colorful walls and accessories atop the brand’s signature ‘Work Lodge White.’
Beyond coworking, The Work Lodge launched The Gabriel Project with the intent to “shine light on the unloved, overlooked, and unwanted in society.” The Foundation funds various programs around four causes like fighting human trafficking or feeding those in-need.
“The Gabriel Foundation is our way of changing the world,” Thakur said in a statement. “Because shared coworking spaces are in demand, potential Work Lodge franchisees have the opportunity to capitalize on an industry that hasn’t yet been exploited while giving back to those in need. We’re also able to provide Work Lodge franchisees with unmatched support ranging from site selection to lease negotiations to build-outs, we walk this process together, and do business with a greater purpose.”
Currently, The Work Lodge is looking for franchise partners in new markets and further expansion in already-established markets. To open a Work Lodge, the total initial investment ranges from $300,000 to $1.5 million. The company says the soon-to-open Fort Worth location — Work Lodge Near Southside — will unveil more unique amenities and benefits for its members.
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