IWG is expanding its network of coworking spaces throughout Arizona (primarily in the Phoenix area) to over a dozen locations.
According to the Phoenix Business Journal, the Switzerland-based flexible office company is expanding its operations to include 15 new workspaces throughout the Valley, from Goodyear to Gilbert and Casa Grande to north Phoenix, in addition to one in Tucson. With this expansion, IWG’s coworking network in Arizona will consist of 46 locations under the Regus, HQ and Spaces brands.
Eleven of the fifteen new offices are scheduled to open in the upcoming months with two recently opening in Phoenix, according to the operator. In the third quarter, IWG plans to open the final two.
The company intends to create its largest coworking space belonging to the Spaces name in the newly constructed GEN1 at GSQ located at 15150 W. Park Place in Goodyear. The 25,200-square-foot “coming soon” lease’s terms were not made public.
Additional sizable leases include 13,000 square feet of Regus-branded offices in the Promenade at Casa Grande mall, which is located at 1005 N. Promenade Parkway in Casa Grande, as well as 16,800 square feet at 560 W. Brown Road in Mesa.
Phoenix was recently highlighted as one of the top five most affordable U.S. metros for open workspaces with a monthly median rate of $119, making coworking more accessible to remote and hybrid workers in the area. Notably, there was 2.4 million square feet of coworking spaces in greater Phoenix as of late last year with an average office size of slightly more than 20,000 square feet.
CEO and founder of IWG Mark Dixon said: “As an important business hub, Arizona is a fantastic place for us to boost our expansion plans. The need for high-quality flexible workspaces continues to soar as hybrid working becomes the new normal.”
Per the Business Journal, IWG had regained more than 90% of its 2019 occupancy following a setback during the pandemic years. Office brokers ascribed the resurgence to the affordability of coworking options, as well as companies’ downsizing goals.
