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Market Insight Houston Coworking Space Commercial Real Estate Economic Data and Information - WeWork

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Coworking remains a popular topic in the news media, although it actually accounts for a smaller percentage of office space in Houston than one might think. Additionally, the term “coworking” is frequently used to encapsulate a wider range of shared office spaces than the “completely open floor plan/hotdesking” model that is typically envisioned. In fact, there are various types of shared office spaces, such as coworking centers and executive suites, both offering shared workspace accommodations.

While serviced offices have been around for decades, the term “coworking” has become a buzzword during the last 10 years with very little metro level data available yet to track historically. Using current data available, a study by NAI Research of coworking space in 17 submarkets found approximately 115 coworking sites throughout the metro totaling 1.5 million sq. ft. of space. That means that the amount of square footage of coworking space is a mere 0.7% of the total office space inventory of 207 million sq. ft., within these submarkets.

Coworking, with its open floor plans and seating arrangements, has become especially popular among tech startups and freelancers seeking community and collaboration with like-minded creative types—or merely those looking for a workplace that is ready for immediate use without a long-term lease commitment. On the other hand, users of executive suites are paying to be able to use the same space/desk every day. Executive suites  tend to provide furnished single workspaces alongside conference rooms and kitchens, as well as telephone and internet access as part of the lease.

Ultimately, coworking space typically makes the most sense for very small users of office space who are looking for the shortest possible lease term or corporations looking for turn-key solutions to their office needs. While the concept is likely here to stay, the total amount of coworking space and number of Houston-based companies looking to utilize it is smaller than many perceive it to be.

Market Insight Houston Coworking Space Commercial Real Estate Economic Data and Information


Leta Wauson
Director of Research
[email protected]
tel 713 275 9618

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