DFW Air­port un­veils au­to­mated check­points

Is co-work­ing catch­ing on? The D-FW area can’t get enough of it

The Dallas Morning News - - Front Page - By STEVE BROWN se2l Est2te Edi­tor steve­brown@d2l­l2s­news.com

Pas­sen­gers us­ing DFW Air­port’s Ter­mi­nal D on Thurs­day got a glimpse of a more ef­fi­cient se­cu­rity screen­ing process with the un­veil­ing of au­to­mated lanes. 1D

Also: San An­to­nio drops bid for Ama­zon HQ2.

North Texas has one of the fastest-grow­ing of­fice mar­kets in the coun­try.

What’s grow­ing even faster are the num­ber of shared­of­fice fa­cil­i­ties in the Dal­las- Fort Worth area.

Com­pa­nies that pro­vide co-work­ing op­er­a­tions have more than four dozen lo­ca­tions in D-FW. And real es­tate bro­kers pre­dict that the num­ber of shared-of­fice spots could more than dou­ble as more pro­fes­sion­als turn to new work en­vi­ron­ments.

“We are a 200 mil­lion­square-foot of­fice mar­ket in D-FW,” said Mike Wy­att, ex­ec­u­tive man­ag­ing di­rec­tor of com­mer­cial real es­tate firm Cush­man & Wake­field. “What they would like to see is 2 per­cent of the mar­ket be­ing co-work­ing.

“There’s room for a lot of growth.”

Cush­man & Wake­field es­ti­mates that over 1 mil­lion square feet of D-FW

of­fice space is oc­cu­pied by cowork­ing com­pa­nies. That’s the equiv­a­lent of one of down­town Dal­las’ largest sky­scrapers.

The fa­cil­i­ties range from the lit­tle over 1,000-square­foot shared-of­fice op­er­a­tions near Fair Park in Dal­las to huge mul­ti­floor sky­scraper suites down­town.

The largest op­er­a­tor so far — New York-based We­work — has al­most 200,000 square feet of of­fice space in down­town, Up­town Dal­las and West Plano’s Le­gacy West.

We­work just an­nounced plans for a 47,714-square-foot lo­ca­tion in Fort Worth.

At We­work’s Up­town of­fice on Mckin­ney Av­enue, work­ers can lounge on the out­door ter­race over­look­ing the sky­line or hide away in­side a metal “phone booth” to get busi­ness done. The largest of­fice has room for 48 peo­ple and can be rented for the long or short term.

“A lot of peo­ple who started with us in Jan­uary when we opened have al­ready grown their of­fice,” said Wes­ley Ni­cole Met­ter, the com­mu­nity leader at We­work’s Up­town of­fice. “We have a di­verse group of peo­ple who come in ev­ery day.”

And don’t be sur­prised if some of them have their dogs un­der the desk.

“That’s good for peo­ple who used to work at home and bring their pets with them,” Met­ter said.

Here to stay

We­work’s flex­i­ble workspaces can pro­vide an of­fice for a one-per­son en­tre­pre­neur­ial com­pany, a fast-grow­ing startup or an es­tab­lished ma­jor cor­po­ra­tion that needs a place to house em­ploy­ees for a spe­cial project or ex­tra hires.

We­work says its lo­ca­tions start at $220 a month for a first-come, first-served workspace in a com­mon area to $400 a month to start for the small­est stan­dard glass-walled of­fice.

“Es­ti­mates are that by the end of the year, 1.2 mil­lion work­ers in 14,000 lo­ca­tions across the globe will be in cowork­ing space,” said Cush­man & Wake­field’s se­nior di­rec­tor, Cribb Alt­man. “Peo­ple al­ways ask us ‘is co-work­ing here to stay?’ Ab­so­lutely, it’s al­ready dis­rupt­ing the tra­di­tional of­fice suite model. There is a lot more col­lab­o­ra­tion that takes place, and it’s more en­er­gized.”

At New York-based In­dus­tri­ous’ new shared-of­fice lo­ca­tion in down­town Dal­las, ten­ants come to work to find break­fast food laid out on the kitchen counter, can grab af­ter­noon snacks and hang around for net­work­ing par­ties at the end of the day.

All of that comes with a floor-to-ceil­ing view of the Arts District and down­town Dal­las sky­line.

“We are a hos­pi­tal­ity-fo­cused com­pany and give our mem­bers lots of at­ten­tion,” said com­mu­nity man­ager Jes­sica Martinez. “We have peo­ple in health care, real es­tate, soft­ware en­gi­neers, mar­ket­ing and more.”

Build­ing buy-in

Chris­tine Rogers re­cently moved with her mar­ket­ing firm, Spark­farm, to the In­dus­tri­ous space.

“We were at an­other cowork­ing of­fice in the West End,” Rogers said. ‘This is our third co-work­ing space. What we give up in pri­vate of­fice space, you get in all th­ese com­mon ar­eas.”

In­dus­tri­ous oc­cu­pies more than half a floor in the One Arts Plaza build­ing.

An­other co-work­ing firm, Serendip­ity Labs, has an­nounced a fa­cil­ity just down the street in the new KPMG Plaza tower.

Of­fice build­ing own­ers, who orig­i­nally might not have been keen on the idea of shared-of­fice providers mov­ing into their mar­ket, are re­think­ing their game plans, said Cush­man & Wake­field di­rec­tor Billy Gannon.

“Some land­lords are get­ting very savvy and re­al­iz­ing it’s a great amenity for their build­ing,” Gannon said. “It al­lows a ten­ant to fall in love with the build­ing and po­ten­tially grow into it with their own larger of­fice.”

Son B2selice/6t2ff .ho­togr2pher

D5itlin atu­illy (from left), Cl2ris2 lin­den­meyer 2nd 52smin Br2nd, 2ll with l2unch DFW, g2thered this week in one of the com­mon 2re2s 2t In­dus­tri­ous. The co-work­ing sp2ce is on the ninth floor of 1ne Arts .l2z2 in down­town D2l­l2s.

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