In 2022, LocalWorks partnered with property developer Manzo Freeman Development (MFD) to open a flex-coworking-shared office space at The Landing at Everett Mills in Lawrence Massachusetts following the developer's acquisition of the building.
MFD sought to activate a 10,000 square foot first floor space in the mill building by partnering with LocalWorks to rent serviced, single offices by the month. But beyond a goal of simply filling 22 individual private offices, both companies had a goal of working together to create a tenant funnel system.
"We knew the demographics of Lawrence were ripe with small business owners and entrepreneurs and wanted to provide beautiful first class office space coupled with flexible terms and cost effective rental rates. We aimed to nurture and support our local entrepreneurs with the hopes they'll flourish and later expand into a larger dedicated space within our Landing Community." said Joe Freeman, CEO, Manzo Freeman Development.
Instead of operating the flex space on their own, MFD partnered with LocalWorks, a Boston-based flex space operator that works exclusively with building owners across the US. "We know what a heavy lift the day-to-day operations and marketing are to be successful in this industry. Our specialty is partnering directly with CRE ownership to help them launch and manage the day-to-day operations of an in-house flex space," said Barry Greenfield, CEO and founder of LocalWorks.
LocalWorks operates on a platform they call Space-as-a-Service, which handles everything from the design and marketing of the space, to the day-to-day operations and management of the tenants.
In less than one year at Everett Mills, the partnership has already proved its value. The 22 private offices at The Landing at Everett Mills are currently 100% occupied with a waiting list and three companies have already successfully expanded into larger spaces within the building.
For LocalWorks, this partnership is a win-win. They are able to provide high-quality office space to local entrepreneurs and small business owners, while also helping building owners activate and monetize underutilized space in their properties.