Co-Working Companies Benefit From Return-to-Office Uncertainty

By Peter Grant

Aug. 24, 2021 8:00 am ET

Shared office space firms like WeWork and Industrious are enjoying a rise in sales this summer as U.S. businesses grappling with the seismic changes in the workspace worldsparked by the pandemic seek flexible and short-term solutions.

Hundreds of companies particularly in the technology sector are taking spaces from these firms, ranging from a handful of hot desks to over 50,000 square feet for periods as short as one month. Many individuals are doing this on their company’s dime as they wait for their employers to figure out when it is safe to require workers to return to pre-pandemic offices.

Companies are also using short-term spaces to plan for a post-pandemic world after 17 months of most white-collar employees working from home and liking it. “In a time of uncertainty we provide flexibility to corporations and small businesses trying to figure out what their employees want,” said Melinda Holland, WeWork head of sales for the U.S. and Canada.

WeWork had $215 million in revenue in July, up from $209 million in June and one of the firm’s strongest desk sales months in its history. Industrious, another major shared space firm, chalked up the strongest sales week in its nine-year history during the last week of July.