Eight new Regus locations are among nearly a dozen facilities that IWG plans to debut in New Jersey in the coming months. — Courtesy: IWG
By Joshua Burd
Despite a week of bad headlines for the coworking industry, the world’s largest provider of flexible workspaces is in the midst of a major expansion in New Jersey.
IWG, the parent of brands such as Regus, Spaces and others, announced this week that it was adding 12 locations in the state as demand for hybrid work options accelerates. That will nearly double the company’s existing footprint of 15 workspace centers in New Jersey, offering a mix of co-working, private offices, meeting rooms and creative spaces.
Five of the sites — including Regus locations in Englewood, Fairfield, New Brunswick and Newark and a Spaces in Newark — have open recently. New Regus sites at 800 Kinderkamack Road in Oradell and 53 Frontage Road in Hampton are slated to debut by year-end, as is an HQ location at 44 Apple St. in Tinton Falls.
IWG’s planned openings in 2024 include:
- HQ at 53-55 Mountain Blvd. in Warren (Q1)
- Regus at 2131 Route 22 in Branchburg (Q1)
- Regus at 185 Route 36 in Long Branch (Q1)
- Regus at 58 Route 46 in Budd Lake (Q2)
“With important business hubs across the state, New Jersey is a fantastic place for us to boost our expansion plans,” said Mark Dixon, CEO and founder of IWG. “The need for high-quality flexible workspaces continues to soar as hybrid working becomes the new normal.
“Our expansion in New Jersey comes at a time when more companies are discovering that flexible working boosts employee happiness and satisfaction, while helping the environment. Our workplace model is also proven to increase productivity and allows for a business to scale up or down at significantly reduced costs.”
IWG says it has added more than 600 locations to its global network in 2023 alone, bringing its total portfolio to some 4,000 sites in more than 120 countries, while allowing members to access all locations and business services via the IWG app. It also comes on the heels of the company’s highest-ever half-year revenue report, it said, noting that it will add another roughly 1,000 locations over the course of the next year.
In New Jersey, it expects its new flexible workspaces to attract established firms and startups across top industries such as life sciences, financial services, advanced manufacturing and information technology. IWG already counts 83 percent of Fortune 500 companies among its customer base, while noting that hybrid work offers companies a significantly lower cost base with an average savings of $11,000 per employee, citing data from Global Workplace Analytics.
“With 40 percent of U.S. workers already working in the hybrid model, and more set to follow, we are actively witnessing the transformative impact that flexible work is having on how and where people work and live,” Dixon said. “Hybrid work is radically reshaping our cities, our suburbs and beyond. With a profound and lasting impact on the make-up of communities and the geography of towns, cities and the nation, the hybrid work model is one of the most important forces at play in the world today as workers increasingly embrace the opportunity to work from a local workspace.”
