Page 5 - RENJ Sept.21
P. 5
EDITOR’S NOTE
RIGHT SPACE,
RIGHT TIME
Our first real foray into co-working and flexible office space came in
March 2019, when we reported that New Jersey had only scratched the surface in a niche that had become so prominent
in New York City. We all know what happened 12 months later, which derailed what looked to be a promising growth story on this side of the Hudson River.
As you’ll read in this month’s cover story, that may have been only a temporary setback. Operators of flex and co-working space appear to be in the right place at the right time,
Operators of
opened Round Table Studios in Berkeley Heights. Located at The Park, the firm’s sprawling business campus along Interstate 78, the venue is as much a social club as
it is a flexible work area, offering everything from fine dining and evening bar service to personal trainers and fitness classes. That formula has seemingly struck a chord with the market: By late August, less than three months after unveiling the space, Connell had signed up roughly 400 members at
Round Table Studios, with some 90 percent of its workstations under contract heading into Labor Day.
Elsewhere in this edition, we detail the continued arrival of out-of-state developers wanting to try their hand in New Jersey. There’s no shortage of hurdles for those who are willing to try, but those that can make it work — generally when there’s buy-in from government officials — are poised to reap the rewards of succeeding in this market.
You can find those stories and more in our latest issue, as we close the door on what seemed to be another busy summer. As I’ve said before, the fact that so many of you have
remained so engaged, productive and successful in a time like this can only bode well for the future. It’s still a time of great uncertainty for parts of the industry, including the office sector, but the ability of co-working spaces to fill at least part of the void is another reminder of the market’s resiliency in our state. I’m eager to see what else lies ahead as we move closer to a more complete recovery.
Until then, thanks for reading and best of luck as we head into the fall. Enjoy the issue!
Joshua Burd
Editor
josh@re-nj.com
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flex and co-working
space appear to
be in the right place
at the right time,
providing an option
for workers...
providing an option for workers who are tired of being at home but still not ready for a full-fledged return to the office.
To be sure, those landlords and managers say they’ve added more private suites to their offerings to make users feel more comfortable, with concerns still lingering about COVID-19 and the Delta variant. But they’re optimistic about the industry’s short- and long-term prospects in New Jersey, as evidenced by the growing number of shared, flexible office spaces that have opened in recent months and the growing size of those facilities.
Our September issue also takes
a closer look at one space in particular, The Connell Co.’s newly
