Commercial Realestate Investment Services
Social Community Portal
Real Estate News for Vancouver
Latest Real Estate News Vancouver

View All Blog Posts

Bookmark and Share
commercial real estate services local vancouverWeWork, a New York-based company, recently announced that they are converting seven floors of downtown Vancouver real estate into shared office space for tech startups and freelancers. The coworking environment, located in the Bentall III tower, is looking to attract 1,500 people to what it refers to as a “community of creators.”
 
While the concept of coworking isn’t new across the Lower Mainland — Regus offers short-term office space at nine locations in Vancouver, for instance — WeWork is unique in that they are one of the largest single locations (80,000 square feet to be exact) with a specific focus on technology. With momentum gaining within Vancouver’s burgeoning “technology ecosystem,” this is great news for freelancers and startups. Flexible and affordable coworking space will allow them to build a presence while they scale their businesses without being tied down by expensive office leases, which can also be very limiting.
 
The Vancouver WeWork location joins the company’s network of 138 offices in 38 cities, ranging from New York to London and Shanghai. The Bentall III location will be dubbed WeWork Burrard Station and it is expected to open by the fall. 
 
WeWork offers a range of membership options. At its most fundamental, freelance members can sign up for access to a “hot desk,” which means they can use any desk available in a shared space. However, other options include dedicated desks, offices available on a monthly basis and entire floors on a term basis. Pricing has yet to be determined, but interested parties can subscribe to updates on the company’s website.
 
As the trend towards short-term, project-based employment, also known as the “gig economy”, continues to spread across the province, flexible office spaces, such as WeWork, will continue to pop up across major markets like Vancouver. Our team of commercial real estate advisors are keeping a close eye on this trend, as well as other news related to Vancouver’s office market.
 
For more information or insight, please contact our office to speak with an associate. You can also view our current listing of commercial properties across British Columbia by clicking here.