*UPDATE: Snapshot of Coworking in OC Today — There’s a Lot of Activity Lately, but are Global Companies Overlooking Urban Areas in OC like Santa Ana?
The coworking arena is still white-hot and OC exemplifies that trend.
WeWork, plans to open its first Newport Beach location in the Fall.
Industrious, acquired TechSpace, which has two coworking locations in OC.
And, one player that apparently overextended itself a few years ago, was ROC, which was evicted from multiple coworking facilities it owned due to delinquent rent. Premier Workspaces, with HQ in Anaheim, took over most of those facilities.
More About Blankspaces
Jerome Chang founded this coworking company in 2008 in LA because he “simply wanted office space for my new architecture firm, but I knew I wanted to share it.”
The company has global reciprocity through a network it co-founded, LExC.co, where there are more than 90 locations for its members to drop in for free, for up to five days per year.
There are now six Blankspaces in SoCal.
Chang had been eyeing OC for a few years, first seeking traditional leases, and then operator management agreements.
The property owner of 2400 Barranca Parkway, across from the District, sought out Blankspaces to activate space on the first floor and to generate leads for the rest of the building.
Blankspaces occupies 6,500 square feet on the first floor, with an option to double that, by taking over the second floor as well.
Currently, med-device startup Modulim partially occupies the second floor, with 10,000 square feet of space.
The number of “locally-born boutique spaces in OC has been scant, given the size of the region,” Chang said.
More About WeWork
WeWork plans to open its first Newport Beach location at 100 Bayview Circle in the Fall.
100 Bayview is a six-story, Class A office building in close proximity to John Wayne Airport and key freeways. WeWork did not disclose how much square footage it would be occupying.
This will be its seventh location in OC location. It can handle a capacity of about 815 members here.
WeWork’s 400,000-plus members globally range from a one-person startup to Fortune 500 Companies. It has 425 locations around the world.
Co-founded by Adam Neumann and Miguel McKelvey in NYC in 2010, WeWork is a privately-held company with over 10,000 employees.
More About Industrious
Industrious was founded in NYC in 2013. As a national real estate company, it competes with WeWork.
Its locations feature open coworking areas, boardrooms, nap pods, party spaces and nursing rooms, according to news reports.
In early May, the company announced that it had acquired TechSpace, a national provider of office space with locations in OC (Aliso Viejo and Costa Mesa), as well as several locations in other states.
Jamie Hodari is the co-founder and CEO of Industrious.
Acquiring smaller providers, like TechSpace, that have reached their operational capacity enables Industrious to continue expanding its national presence.
This is the second coworking acquisition for Industrious. The company previously acquired Assemble – with HQ in Chicago and three locations — last year.
Industrious has over 75 locations across more than 40 U.S. cities.
Industrious members include companies like Pfizer, Hyatt, Airbus, Pandora, Lyft and Pinterest.
Seritage Growth Properties is a national retail and mixed-use developer with HQ in NYC. It functions as a publicly-traded REIT, with close to 200 wholly-owned properties and 27 joint-venture properties. It occupies about 36 million square feet across 46 states and Puerto Rico.
Coworking in Downtown Santa Ana
DTSA has seen more small-scale coworking facilities.
“Downtown continues to grow and people want to be in this creative urban environment,” Ryan Chase told OC Startups Now. “While I appreciate WeWork currently focusing on Costa Mesa and Irvine, I feel that long-term, Santa Ana is a perfect fit.”
Chase is a principal with his family’s real estate business, S&A Management, with HQ in Costa Mesa.
In Other SoCal Coworking News
Industrious has also partnered with Seritage Growth Properties to open five new locations, with the first in La Jolla.
This coworking facility will be located at the Collection at UTC, a shopping, dining, residential and business district, anchored by the luxury fitness brand, Equinox.