International Workplace Group (IWG), a global leader in coworking spaces, is set to expand its footprint in California by adding 17 new locations. This strategic expansion will bring IWG’s total number of coworking spaces in the state to 196 by mid-2025, reflecting the company’s commitment to growing its presence in key markets.
The new California locations will range from 6,000 to 25,000 square feet, with the majority operating under managed partnership agreements. These agreements allow building landlords to manage the coworking spaces with the support and resources provided by IWG, fostering a mutually beneficial relationship. Among the 17 planned sites, eight will be located in prominent areas within Greater Los Angeles and Orange County, including Irvine, Long Beach, and the Pacific Palisades.
Mark Dixon, IWG’s founder and CEO, emphasized the importance of California as a rapidly growing market for hybrid work solutions. He stated that the company is committed to accelerating its growth in the state to meet the increasing demand for flexible workspaces.
IWG’s expansion into California comes on the heels of its most successful year to date. In 2023, the company reported a record revenue of approximately $4.2 billion, the highest in its 35-year history. The company has also been reorienting its U.S. portfolio towards flexible workspaces closer to residential areas, as seen in similar expansions in states like Arizona.
The surge in demand for coworking spaces in the U.S. reflects a broader shift towards flexible work environments. National coworking supply has grown by 7% recently, totaling over 7,000 spaces across all 50 states. IWG’s ongoing expansion positions it as a key player in this evolving landscape, with over 4,000 locations globally and 1,500 in the U.S. alone.
This growth also feeds into speculation that IWG might be considering a shift from the London Stock Exchange to the New York Stock Exchange to capitalize on higher valuations typically seen with tech companies. While the company has not confirmed this move, it has transitioned to reporting its financial results in U.S. dollars, further fueling these rumors.
IWG’s coworking brands, which include Regus, Spaces, HQ, and Signature, are at the forefront of the flexible workspace movement, catering to the changing needs of today’s workforce. The planned expansion in California not only responds to current demand but also positions IWG to play a pivotal role in the future of work.
