CoLab Out-Performs Flexible Workspace Market

New Haven Area Coworking Space Shows Record Growth

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Jul 27, 2021, 12:12 ET

TRUMBULL, Conn., July 27, 2021 /PRNewswire/ -- CoLab, Trumbull's only dedicated coworking facility, posted record growth from May 2020 to May 2021, with membership increasing by over 90%. In comparison, the flexible workspace industry growth over the same period showed a slowdown, with 30% of providers reporting either a relatively stable or even a 10% decrease in occupancy rates. Colab's membership continues to grow as both sole proprietors and larger businesses increasingly turn to more flexible and more localized workspaces.

According to The Instant Group, 67% of CRE decision makers are increasing workplace mobility programs and incorporating flexible space as a central element of their agile work strategies. 86% of CBRE respondents see flexible office space as a key component of their future real estate strategies.

Further studies have found that suburban coworking spaces are positioned for the most growth in a post-pandemic world. As remote work is accepted as the norm across more and more business sectors, many are choosing to leave big cities in favor of more suburban and affordable areas. In fact, 43% of workers would consider working from a company-provided location nearer to their home at least a few times a week.

CoLab's coworking facilities are uniquely positioned in the town of Trumbull, a vibrant business community, in close proximity to several large Connecticut cities, including New Haven and Bridgeport.

"It's great to be surrounded by people in various industries and to be able to network with different people in this office space", said CoLab member Tracey Adkins, founder of Information Security Advisory Services, LLC. "It's a great way to run a business with little risk. And CoLab includes all of the amenities I need. It's a quiet and professional atmosphere and the CoLab team is very accommodating."

"Recent global research study by Cushman & Wakefield shows that office workers are going to demand much more flexibility moving forward,'' said Jeff Levene, President of CoLab. "They are looking to local community coworking locations that are neither home nor the core office hub. Workers who have the freedom to choose where they work rate their experience, culture, engagement, networking, and work-life balance higher when their office is in a coworking facility close to where they live."

Membership in CoLab is offered on a monthly basis depending on the type of space needed, starting at $65 a month for membership, which includes an open or hot desk. Dedicated desks, private offices for teams of all sizes, as well as meeting rooms and flexible spaces are also available. Once enrolled, members can use the space occasionally or daily, as membership pricing provides unlimited days of use per month.

"CoLab is not only the right space to work for individuals," said Levene, "it's the right space to grow young businesses or downsize existing ones as needs change, without the worry of long-term leases, furniture and utilities."

Contact: Jane Levene
203-253-7953
[email protected]

SOURCE CoLab