Phone: 619-238-4900

San Diego co-work spaces: it’s a thing

Office buildings, industrial, retail, restaurants, hotels and housing. These have been the mainstays of San Diego commercial real estate for years. While all are likely to be around for many more years, changes are afoot, the Union-Tribune reported recently.

San Diego County now features more than 1.2 million square feet of flexible workspace, according to a new report on co-working facilities in our area. The evolution of the office building component of commercial real estate means many small companies, individual entrepreneurs and other young professionals can have relaxed work surroundings while avoiding the high rents of traditional offices.

Commercial real-estate brokerage Cushman & Wakefield’s report says flexible workspaces include classic style offices and open-format design spaces as well. More of these millennial-friendly co-work spaces are coming: another 200,000 square feet is expected locally by the end of the year.

“(Co-working) is no longer a trend; it’s a mainstay that allows companies and individuals flexible and collaborative work environments,” said a Cushman & Wakefield spokesperson.

He said it used to be that companies would lease or purchase a floor in a building “and carve it up into offices.” Now co-working allows teams and individuals to work in large, unique real estate properties.

The most popular co-work areas are Downtown, the Union-Tribune reports, followed by Carlsbad and University City. Others include Premier Business Centers and Boxer Workstyle in Miramar.

Business tenants and commercial landlords embroiled in lease disputes should contact an attorney experienced in cost-effective resolution of disagreements before they become expensive court battles.