Bisnow Boston covers the structural shift in Greater Boston's coworking market – away from downtown and toward the suburbs where LocalWorks has been building all along.
Bisnow's Boston bureau published a detailed look at the shifting geography of coworking demand in Greater Boston this week – and the picture it paints is one that LocalWorks has been preparing for since the company's earliest days.
The story is straightforward: downtown coworking is contracting while suburban operators are growing. The urban coworking market in Greater Boston has declined approximately 5% in the past year, according to Lincoln Property Company Director of Research Peter Conway. Meanwhile, suburban operators are posting strong occupancy numbers, opening new locations, and in some cases running out of space entirely.
LocalWorks sits at the center of that shift.