Real estate professionals and employers across the nation have seen a major shift in workspace demand emerging out of the pandemic, trending towards coworking spaces and offices with shorter term leases.
CBRE’s Head of Occupier Thought Leadership, Julie Whelan told CoStar News, “People have a totally different way of working now. The purpose of the office has changed, and while we continue to think there will be some end state to the return-to-office movement, I don’t think that exists. I absolutely think the need for flexibility will continue in the long term.”
Work schedules that have evolved past the typical 9-to-5 workday have left office tenants rearranging their real estate footprints to accommodate the shifts in how employees work. NRH Economic Development has seen this play out at the local level with a growing interest in shared workspaces in the city. According to Coworker Mag, the coworking industry is one of the fastest growing industries in the U.S. due to the consequences of the pandemic and the rise in hybrid work.
NRH is home to five existing and two additional shared office and workspace concepts including Warespace, NT Suites, TrueSpace, Platinum Music Complex, The Maker Spot, and currently in the works, Caddo Offices and AFT Commercial. Not only do these businesses bring valuable professionals to our community, but some have occupied underutilized space, bringing life and vibrancy to mature properties. In addition, the business concepts promote an entrepreneurial ecosystem which fosters economic growth.
Warespace (Flex Office/Warehouse), located at 7601 Boulevard 26 at the former Laser Quest site, opened in early 2023, providing small businesses, e-commerce companies, and creative entrepreneurs with small warehouse and office space, plus amenities to help businesses. The facility includes secure Wi-Fi, loading docks, a conference room, kitchen and lounge, warehouse equipment and more. Open 24/7 with flexible lease terms, WareSpace was founded to empower and enable small businesses by allowing them to operate with the same efficiency and advantages as large corporations. Learn more about WareSpace at https://warespace.com/.
NTsuites (Office), a shared space concept for small businesses, opened in 2021. A cross between traditional office suites and private salons, NTsuites offers affordable, individual suites with no term leases. Shared common areas with efficient designs offer small business tenants an opportunity to focus on growing their business. NTSuites was so successful that they expanded the building in 2022 to accommodate additional small businesses. To learn more, visit https://ntsuites.com/north-richland-hills/.
TrueSpace (Office) business center recently opened at 8713 Airport Fwy #310, offering both virtual office services and designated desk rentals. The business also offers a conference room that can be rented on an hourly basis. Visit www.truevirtualoffice.com for details.
Caddo Offices (Office), under construction in front of B&B Theatres on Davis Boulevard, is a Dallas-based flexible office space firm. The nearly 40,000-square-foot, two-story building will offer flexible office rentals and coworking spaces, three types of membership options, 24/7 access, high-speed internet, on-site management, and a member café. For more information, visit www.caddooffices.com.
AFT Commercial (Office) recently purchased 4925 Davis Blvd, the first building as you exit the ramp off 820 with a grand two-story foyer leading to a range of individual, private lock-up-and-go offices and some multi-office suites for larger teams. The tenant community shares 24/7 access to well-equipped conference facilities, kitchen, and other public area amenities. They have a heart to see local businesses thrive and offer access to various executive suites in professional settings with the intent to see you and your business grow. Find out more at www.AFTCommercial.com.
Platinum Music Complex (Creative), while not your traditional co-working space, is the first notable shared workspace to open in the former City Hall building in 2019. Since then, the complex has become a premier destination for musicians and professionals across Tarrant County to rent rehearsal spaces. Described as the largest rehearsal and recording complex in the United States, Platinum Music boasts a top-quality recording studio, podcast/video space, over 100 rehearsal spaces, music lessons, a concert hall, and even a film set which has served as the backdrop for several Lifetime TV shows. For additional details, visit www.platinummusiccomplex.com.
The Maker Spot (Creative) is a 4,500 square foot makerspace on the second floor of the NRH Library. This community workspace is a place where Library cardholders can visit to create, explore, collaborate, and innovate. Equipment available for use includes 3D printers, a drill press, soldering station, scroll saw, sewing, quilting and embroidery machines, audio production/editing tools and more. Get more info at www.library.nrhtx.com/themakerspot.
The current shared spaces in NRH have become popular due to their flexibility, collaboration, productivity, and community. This real estate sector is expected to continue growing and it is no surprise that additional coworking spaces have shown interest. The city’s desirable location, proximity to highways, transportation, and abundant, well-educated workforce make North Richland Hills an ideal location for professional office space.