The national inventory for the US coworking market rose 2.7% from the first to second quarter of this year, reaching a total of 9,384 spaces.
According to data from CoworkingCafe, the national square footage for this sector stood at 166.36 million square feet, up 1.5% compared to the first quarter. Coworking spaces account for 2.34% of the total office space. The average square footage for coworking space dropped by 1.2% from the first quarter to 17,728 square feet.
The sector’s top second quarter markets were Los Angeles with 349 coworking spaces, despite a slight 0.6% dip from the first quarter, followed by Chicago with 346 spaces after a 3% increase and Dallas-Fort Worth with 338 spaces following a 0.3% gain. Indianapolis had the largest increase in second quarter inventory with 14%, while Connecticut’s Bridgeport-New Haven recorded a 1% contraction.
The top five operators nationwide in the second quarter were Regus (1,285 spaces, up 3.9% from the first quarter), HQ (388 spaces, up 4.9%), Industrious (191 spaces, up 3.8%), Spaces (171 spaces, down 1.2%) and WeWork (149 spaces, flat from quarter-to-quarter). These five companies collectively control 2,184 locations out of 9,384 nationally, roughly 23% of the total coworking inventory.
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