By Andrew Wiley, August 20, 2018
JLL Retail’s recently released “Can coworking work at the mall?” report provides great perspective on the potential future of coworking and retail. The study examined 75 retail coworking spaces that take up more than one million square feet of retail space in hopes of identifying whether or not these locations can thrive backfilling empty retail space successfully and profitably.
In Dallas-Fort Worth, most retail spots where we see this happening are in regional trade areas. Typically, regional trade areas will have a good mix of retail, office, multifamily, etc, so they become more of a natural or viable fit for the coworking client or customer. These are not to be confused with a neighborhood center, but rather something much closer to where these concepts would likely have landed anyway.
What coworking space is able to leverage is the variety of amenities their clientele is looking for – restaurants, fitness, entertainment, and the like in very close proximity.
If you strip the layers back, at its core, many of the same fundamentals that drive decisions as far as location, accessibility and visibility for companies on the office end are the same ones driving where coworking companies are positioning themselves in these retail areas. Certainly, something to keep an eye on in the near future.