The parent company of executive office provider Regus plans to bring its shared office concept, called Spaces, to South Florida starting in Miami, a Regus executive told The Real Deal.
Regus’ Jeff Doughman, said Spaces plans to open multiple locations in South Florida “from West Palm Beach/Boca Raton on south.” The parent company of Spaces and Regus is IWG plc, a multinational company formerly known as Regus.
Spaces plans to open a 19,000-square-foot location at 2 MiamiCentral, a 190,000-square-foot office building under construction in downtown Miami near the site of a passenger train station that will be built for the planned Brightline rail service. Construction of 2 MiamiCentral is expected to be finished early next year.
Spaces also just preleased almost 24,000 square feet at Cube Wynwyd, an eight-story office building planned at 222 Northwest 24th Street. RedSky Capital landed an $18.27 million construction loan for the building, designed with almost 80,000 square feet of office space and about 11,400 square feet of retail space.
Doughman said Spaces locations have sleek, open designs and a larger percentage of shared office space and lounge space than Regus locations, which have more private office space.
Though Regus is well known for providing private offices with flexible terms, “we’ve had co-working spaces for years,” Doughman said. Co-working space rates at Regus locations start at $75 to $100 a month.
Doughman said there are 37 Regus locations in South Florida, including five that have opened since late 2016 in Sunny Isles Beach, Miami Beach, Jupiter, Fort Lauderdale and Aventura.