The Wall Street Journal – June 9, 2017

By | June 19, 2017

Short-term communal office space favored by tech and startup companies move beyond urban enclaves
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The rise of the suburban shared-office facility, typically under 15,000 square feet in New Jersey, has been fed by a growing number of independent workers, said co-working operators, real-estate developers and brokers. Many of them are leaving the corporate world to strike out on their own, eliminating a long commute and establishing more of a balance between personal and work life, said the experts added.

Larger companies also are fueling demand, using these facilities as spots to allow valued employees a flexible work option close to home. About half of the customers using coworking provider Serendipity Labs Inc. work for established companies, said Chief Executive John Arenas. Serendipity Labs, which operates a number of facilities around the U.S., opened locations in Ridgewood, N.J., and Stamford, Conn., last year and has franchise sites under development.

“Workplace strategy at companies has become much more sophisticated in the last three to four years,” Mr. Arenas said. “As companies try to retain top talent and support mobility, they have taken a hard look at third-party space providers.”

Source: Keiko Morris, “Co-working Spaces Spread to the Suburbs,” The Wall Street Journal