Leasing

Starting a Coworking Space? Rosedale Has the Perfect Spot

Posted August 27, 2021

Small group of coworkers working in mall coworking space.

When you think of your local shopping center, you might picture dozens of popular retailers, dining options, and entertainment venues. But these days, the mall is much more than a shopping destination. It’s now home to less traditional retail businesses, too.

As the need for more flexible work space continues to rise, coworking businesses are discovering the vast benefits of leasing a retail space to rent out offices, meeting rooms, or individual desks to remote workers.

In fact, JLL conducted its first-ever study to help readers understand this growing trend and predict whether coworking spaces could help backfill empty retail space successfully.

About the Study:

After examining a total of 75 coworking spaces (all of which made up more than one million square feet of retail space), the study concluded that the highest concentration of coworking spaces in retail is either in malls (21.3%) or urban locations (20%). The study further concluded that the reasons or this high number may result from the following added perks of mall leasing:

  • Fun, functional space 
  • Greater accessibility
  • Ample parking
  • Nearby Restaurants
  • Close proximity to shopping/personal services 

With this data in hand, JLL predicts that coworking space will continue to increase by 25% each year through 2023. 

The Future of Coworking Spaces

Though some employees have (and continue) to return to the office, many are still living a hybrid schedule or have converted to working fully remote since last year. The shift in working habits has benefited many working families who have more time to complete tasks on their own schedules and become more efficient at their jobs (up to 47% more productive). 

But having the option to mix up their WFH routine is also appealing, as a change of scenery is proven to help stimulate the mind, promote a healthy work/life balance, and provide some much needed flexibility and socializing outside of the home.

And this coworking trend is benefiting businesses, too.

Rather than paying for (and maintaining) a brick-and-mortar building that’s mostly empty due to remote/hybrid workers, companies can now choose to become a member of a coworking space and rent offices and meeting rooms, as needed. This provides more cost incentive and scalability for business owners to run operations, without accumulating too much overhead.

The main takeaway from the JLL study and this article is that coworking spaces provide the type of flexibility and freedom that appeals to not only remote workers but major businesses, too.

Leasing a Coworking Space at Rosedale

As mentioned earlier, renting a retail space offers several perks and convenient amenities, such as easy parking, accessibility, and nearby destinations for personal nourishment and entertainment. But when you lease a space at Rosedale Center, you get much more!

Centrally located between the Twin Cities of Minneapolis and Saint Paul, Rosedale offers a fun, yet functional hotspot to grow your business. With more than 14 million in foot traffic a year (and growing), our shopping center plays host to live performances, family events, artistic expression, community outreach, and so much more! 

If you’re looking for an attractive location to set up your coworking space, Rosedale offers flexible leasing options and marketing programs to help advertise your business, so you can grow your memberships and give your coworkers an exciting location to work, shop, and play! 

If you’d like to learn more about our leasing options, give me a call at 651.260.3545 or send me an email at Holly.Rome@am.jll.com to learn more about the retail space we have available.

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