Coworking Spaces in Newport Beach, CA
Newport Beach is located along the central coast of Orange County and is home to over 85,000 residents. The city is adjacent to John Wayne Airport and is served by most major airlines. The University of California in neighboring Irvine provides access to technology and well-educated employees, helping drive the demand for coworking space in Newport Beach. Major employers in the city include Hoag Memorial Hospital Presbyterian, PIMCO, and Pacific Life.
The coworking scene in Newport Beach is rapidly growing as more companies flock to the airport submarkets around John Wayne. In fact, the greater airport area makes up about 62% - or 428,000 sq. ft. – of the total amount of coworking space in Orange County, according to Cushman & Wakefield.
WeWork plans to open its first location in Newport Beach in 2019 in the Class A office building at 100 Bayview Circle. Smaller operators of flexible office spaces in Newport Beach include The Other Office with full height windows overlooking the airport, and HanaHaus offering wide-open workspace for its community of entrepreneurs, artists, designers, and writers.
Coworking Market in Newport Beach, CA
Cushman & Wakefield reports that Newport Beach has the 2nd-largest number of coworking sites in Orange County, with six locations throughout the city. That gives Newport Beach a market share of about 23% of the total coworking space in the county.
The demand for shared space is also keeping the vacancy rate of office spaces at all-time lows. With just over 8 million sq. ft. of inventory, the office vacancy rate in the city is just 7.5%, about one-half that of the Greater Airport Area submarket.
Orange County is the heart of the Tech Coast of Southern California and home to the world’s largest concentration of technology companies and employees, according to Newmark Knight Frank’s market profile. Yardi Matrix notes that tech employment and the demand for coworking space go hand-in-hand, with Newport Beach being no exception. The Orange County area contains almost 2.1 million square feet of coworking office space in total.
Employers coming to Newport Beach find a skilled, well-trained workforce. Between 2013 and 2015, the number of people holding bachelor’s degrees or higher in the business field grew over 37%. Degree holders specializing in education increased an amazing 79% over that same four year period.
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What is coworking?
Coworking is a collaborative and flexible work style that involves a shared workplace or shared office space. The difference between coworking and traditional offices is that people who work in a coworking space don’t usually work for the same company or organization. This is why these collaborative work spaces appeal to freelancers, small businesses, solopreneurs, and independent workers. The coworking provider that manages the space handles all the services and amenities, to make sure all individual needs are covered. Many coworking spaces offer services such as event space and conference rooms, free wi-fi, virtual business addresses, 24/7 access, pet-friendly policies, printer and fax services, as well as the ability to rent office space by the hour, the day, the month, or long-term.
How to find the right coworking space in Newport Beach, CA
CommercialCafe is your go-to source for finding coworking & shared spaces in Newport Beach, CA. Search our selection of in Newport Beach, CA coworking spaces and find the right provider for your workspace needs. Our database includes 16 coworking office properties, so you can easily find your space and start working. Use our advanced search feature and filters to find the right shared office space, by selecting your desired price, neighborhood, and amenities such as complimentary Wi-Fi, coffee and tea, printing and scanning services or pet-friendly policies. Whether you’re looking to rent office space for a day, trying to find an hourly office rental, or searching for a longer-term option, we’ve got you covered.