Coworking Spaces in Salt Lake City, UT
Salt Lake City is the capital of Utah and the largest city in the state with over 1.2 million people in the metropolitan area. The economy in Salt Lake City is driven by the public, business, and professional service sectors and has been a technology hub in the Western U.S. for more than 10 years. Greater Salt Lake is home to tech giants and digital firms such as eBay, Adobe, and Oracle.
The high-tech sector also keeps the coworking scene in Salt Lake City thriving. Office space in Salt Lake catering to the tech market had the highest net absorption growth in the U.S., according to CBRE’s annual Tech-30 Report. Tech growth is one reason why the market for coworking space in Salt Lake is attracting attention from industry giant WeWork. The company has plans to open four new facilities over the next year alone.
Freelance workers are also attracted to the tech-centric market and options for shared space in Salt Lake City. Between 2013 and 2017, self-employed people working in the information services sector grew by 14.7%. Freelancers in the metro area now make up about 5.5% of the total labor pool.
Coworking Market in Salt Lake City, UT
The demand for traditional and flexible office space in Salt Lake City is growing right along with the job market. Employment is at 12-year highs, with businesses of all types attracted by the area’s young and educated workforce. In fact, CNBC recently ranked Utah among the Top 5 States for Business in 2019.
Class A office product used by coworking operators accounted for more than 50% of the net office absorption in the market to date in 2019, according to Cushman & Wakefield. With unemployment rates at just 2.8% and job growth at 1.9%, companies are looking for high quality office product with improved common areas and amenities to help attract top talent.
Between 2013 and 2017, the number of workers holding bachelor’s degrees or higher grew by 13.7%. Holders of degrees in the business and arts and humanities field all increased by over 20% during this 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 Salt Lake City, UT
CommercialCafe is your go-to source for finding coworking & shared spaces in Salt Lake City, UT. Search our selection of in Salt Lake City, UT coworking spaces and find the right provider for your workspace needs. Our database includes 7 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.