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Coworking space and event centers

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  • Posts 65
  • Votes 39

David Short
Flipper/Rehabber from Fishers, Indiana

posted about 1 year ago

Anyone in this space. Opening one in Indianapolis 

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  • Posts 77
  • Votes 14

Chris Pastrana
Investor from Goffstown, NH

replied about 1 year ago

Hello, I recently opened a coworking space in New Hampshire. Great avenue

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  • Posts 65
  • Votes 39

David Short
Flipper/Rehabber from Fishers, Indiana

replied about 1 year ago

Would love to talk about you experience and possible pitfalls. I'm within 60 days of opening a 120000 sq ft event center and co-working space. Dave Short

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  • Posts 83
  • Votes 243

Sam White
Rental Property Investor from Dallas, TX

replied about 1 year ago

David, are you building it or are you repurposing an existing building?  


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Check Rosette Top Subjects:
Rentals, Traditional Financing, and Real Estate Finance
  • Posts 193
  • Votes 240

Jason Turgeon
Realtor from Boston, MA

replied about 1 year ago

@David Short and @Chris Pastrana , I hope you share some experiences here on the forum. I've toyed with coworking/event space ideas in the past but never pulled the trigger.

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  • Posts 77
  • Votes 14

Chris Pastrana
Investor from Goffstown, NH

replied about 1 year ago

my co-working space is fairly small, it's about 4500 sq feet.. most of which is 14 offices. Our co-working hall is 900 sq feet. 

there are some problem I hadn't accounted for in the beginning but we're doing well now.  I'm looking at opening a coworking warehouse very shortly, the added revenue should be great.

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  • Posts 65
  • Votes 39

David Short
Flipper/Rehabber from Fishers, Indiana

replied about 1 year ago

My space is 12,000 sq Ft which is divided up 6000 for co working which has 14 private offices, 4 conference rooms plus 1400 sq ft as a common area for 80 members at $130 per month, The back 6,000 feet is a corporate meeting space plus event center, we can do weddings and corporate events up to 200 people, PM me would love to talk about the warehouse space.. 

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  • Posts 77
  • Votes 14

Chris Pastrana
Investor from Goffstown, NH

replied about 1 year ago

I like your layout @David Short . When I took over this space it was an old doctors office and we had 0 extra capital to do much renovation, so we used the space as it is haha.It was tough but we've built up over time. Once we get a good foothold I'm looking to start a few more coworking spaces and warehouses. 

Why are you sticking with just 80 members? Is that in total or in the property at the same time?

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  • Posts 3
  • Votes 1

Tiffanie Mark
Specialist from Madison, WI

replied about 1 year ago

I’ve owned and operated my Coworking space for seven years now. I’m also heavily integrated within the global coworking network, at a leadership level, and have quite a bit of industry knowledge. (Operations, finance, community development, workspace management systems, etc.)

I presume the 80 members came from something along the lines of 1400 ft.² divided by an average of 40 ft.² per member X a 2.5 variable vacancy rate?

**Full disclosure, I’ve worked as a professional Coworking consultant for the last 2 years BUT I‘m also happy to help people however I can with answering general questions or pointing you in the direction of appropriate resources. So free to shoot me a pm!

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  • Posts 77
  • Votes 14

Chris Pastrana
Investor from Goffstown, NH

replied about 1 year ago

@Tiffanie Mark I'd love to speak with you more about what you know about coworking. I recently had a very large place reach out and ask to have us place a location within their building. And we have a few co-warehouses getting ready to open. Looking promising.

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  • Posts 18
  • Votes 8

Craig Baute
Specialist from Denver, CO

replied 4 months ago

@Jason Turgeon and @David Short
Congrats on the space. I have been a coworking space operator for over 10 years with chains in Denver and Chicago.  I love the size of a 12,000 SF space. It's my general rule of thumb for spaces that can be opereatored by one staff member and feel intimate. 

David, I would have recommended different square footage to you based on my coworking knowledge of the Indianapolis area and the competitive environment. If you are still able to make some adjustments, I would lower your coworking size to 1,500 to 2,000 SF depending on if it's attached to your 1,4000 SF open kitchen area. After that I would probably split the rest of the space to offices ranging from 60 SF to 140 SF with a few larger ones. That's where the general trend is going. The fine tuning of the numbers depend on a coworking feasibility study, which is usually only $2500 and takes about 2 weeks. 

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