Enterprise Introducing Coworking in the Suburbs
May 4, 2018
We’re establishing coworking in the suburbs! Our flagship location of Enterprise Coworking, a shared workspace in Denver’s RiNo district, is expanding to a second location at 5500 Greenwood Plaza Blvd in Greenwood Village, near the Denver Tech Center. Focus Property Group, who is affiliated with Enterprise Coworking, closed on their purchase of a 70,000 square-foot office building on May 1 at a cost of $10 million. Enterprise Coworking will occupy almost 18,000 square feet of office space with the remainder of the real estate remaining under lease by 7 existing tenants of 5500 Greenwood Plaza Blvd. The new location is pre-leasing spaces now and is slated to open for new members in August. It will provide state-of-the-art collaborative workspace to Denver’s South suburban market. Interested parties can fill out a tour request here.
The new property at 5500 Greenwood Plaza Blvd is positioned in the nucleus of Denver’s Southeast suburban office market, just South of the Denver Tech Center. Enterprise Coworking will tap into a relatively untouched demographic of older millennials moving to the suburbs.
Since 2015, the coworking industry has seen over 60% market growth year-over-year. In fact, between 2016 and 2017, the number of people leasing coworking space grew by over 70.7%. 30% of all coworking spaces opened in the past year, meaning the market flooding with new spaces that are differentiating. With the average age of a coworker at 34, many have moved to the suburbs to start families and many of these coworkers are commuting large distances to their spaces in the city. It makes sense that coworking will start popping up in the suburbs, and Enterprise Coworking wants to lead this spread. Furthermore, in DTC and Greenwood Village, professional, scientific, technical, and IT services account for 24% of the workforce; all industries most commonly found in coworking spaces.
“This building, just a few hundred feet from light rail, restaurants and retail, and with a vibrant technology and services-oriented existing tenant mix, is the perfect first location to expand our growing Enterprise Coworking brand into the Greenwood Village and DTC area,” said Bahman Shafa, president of Focus Property Group and Enterprise Coworking.
The 66,000 square foot flagship location of Enterprise Coworking in RiNo opened its doors in summer 2016. The shared workspace is now home to 392 members among 75 different companies of various sizes and industries, occupying large suites down to individual shared desks. Members share 14 conference rooms, indoor and outdoor event spaces, a communal kitchen and pub among other features. In addition to these amenities, members are privileged to a wide-range of social events, happy hours, professional development and educational events, and networking opportunities. Enterprise Coworking will extend its robust services and amenities to the new Greenwood Village location.
When renovations are complete, the new Enterprise Coworking will feature 12 1-person suites, 14 2-person suites, nine 4-person suites, two 6-person suites, and four dedicated desks spread among two levels. Members of this more executive-style concept of Enterprise Coworking will share 3 conference rooms, a large multi-use room, 3 break rooms and a large outside patio area with access to a wide range of weekly community events. The suburban coworking space plans to expand its size and amenities as more open office space becomes available within the building. Additionally, the 200+ parking space lot will be adding new EV charging stations for tenants and members driving electric vehicles.
The property sits alongside I-25 with proximity to the Light Rail and other public transit. Members will enjoy an easy walk to the Landmark development, a major retail, dining and entertainment center including bars, restaurants, shops, fitness centers, salons, and a movie theatre.