BOSTON, Jan. 14, 2022 /PRNewswire-PRWeb/ --
Space-as-a-Service operator LocalWorks.us recently added multiple
partnerships with property owners in Massachusetts, Maryland, Northern
Virginia and Illinois.
The company specializes in partnering with commercial real
estate owners who seek to monetize vacant office space. Using its
"space-as-a-service" platform, LocalWorks allows property owners to
respond to the accelerated demand for private office rentals from
individuals and businesses seeking flexible lease terms.
"Covid has accelerated the demand for short-term or flex office
space. At the same time, many people want to avoid the open space
or coworking concept - so we are seeing significant interest in
private offices," said LocalWorks CEO Barry
Greenfield.
By partnering with LocalWorks, property owners can quickly
monetize vacant space. Typically a location will begin producing
revenue within thirty days and is fully rented up within four to
six months.
In exchange for providing offices, owners receive the majority
of monthly gross revenue while LocalWorks markets, manages and
operates the day-to-day flex workspace business. "By utilizing
second gen previously officed space, there are no TI requirements
in order for us to begin operations," said Greenfield.
This fall, the company opened new locations in Bethesda, Silver
Spring and Rockville,
Maryland. In December and January, LocalWorks has opened six
new locations in Arlington and
Tysons Corner, Virginia,
Naperville and Downers Grove, Illinois and new Massachusetts locations in Wellesley and Lawrence.
With 25 locations under their belt, LocalWorks has built a
platform that appeals to both property owners and small businesses.
Occupancy is above 90% at almost all locations.
"While we're still focused on Boston, DC and the Chicago suburbs, we see a great opportunity in
most major markets and expect to expand nationally in 2022," said
Greenfield.
Media Contact
Barry Greenfield, LocalWorks, 1
2022109556, barry@localworks.us
SOURCE LocalWorks