Wednesday, February 24, 2016

Two new coworking spaces coming to San Jose

Not one, but two new coworking spaces are coming to San Jose! Coworking allows entrepreneurs and small companies to lease a small amount of space in a shared office space with access to resources needed to run a business. Some come with cool perks like free popcorn and happy hours. However, what is really important to us is that these coworking establishments bring entrepreneurial talent into the San Jose ecosystem, where companies will hopefully decide to stay as they grow.

Downtown San Jose currently has two coworking offices that I'm aware of, NextSpace and Pacific Workplaces. The two new ones coming in though are quite a bit larger and will add a combined 105,000 SQFT of coworking space into the mix.

WeWork is the market leader of the coworking world. They are worth over $15 billion and have dozens of offices around the world. They are grabbing 75,000 SQFT across four whole floors at 75 E. Santa Clara Street. This is the same complex where the San Jose Mercury News is located. The building also happens to be just a few blocks away from the new San Jose Patent Office, a very nice luxury few entrepreneurs across the US can claim. WeWork is also going to put a sign on top of the high-rise and paint one side to bring the building to life with cool imagery.

Regus is bringing 30,000 SQFT of co-working to Tisch Tower, a 12-story building behind Santana Row. This will be the first west coast launch of Regus' "Spaces" concept, which is targeted at creatives and startups. Once those startups grow up, there will be plenty of room available in the area since Santana Row is planning to add at least 500,000 SQFT of office space.

Creating more collaborative office spaces that attract entrepreneurs could only help both our economy and reputation as an innovation leader.

Source: SVBJ, SVBJ (2)

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