Swiss-based company enters Triangle’s growing co-working market

CHAPEL HILL — A Swiss-based collaborative workspace company is growing its footprint in the Triangle. International Workplace Group’s Spaces has opened its latest co-working location in Chapel Hill at the Station at East 54 overlooking Finley Golf Course.

“Chapel Hill is an ideal market for our innovative approach to flexible working, and the dynamic community of professionals is a great place for businesses to call home,” said Michael Berretta, Spaces’ vice president of network development, Americas. “Our Chapel Hill location will offer our members an active, mixed use environment with restaurants and retail, as well as proximity to RTP and the area’s major research universities.”

Michael Berretta, Spaces’ vice president of network development, Americas.

The space features 323 co-working desks, two meeting rooms, secure Wifi, coffee bar and concierge-level services.

The Town of Chapel Hill recently announced the opening of Spaces and Carolina Co-Working, which join co-working spaces Launch Chapel Hill, a business accelerator, Perch Co-Working and Bluedoor Studio.

“We’re creating a local business culture that empowers entrepreneurs and businesses of all sizes,” said Dwight Basset, economic development officer, Town of Chapel Hill. “These unique, flexible co-working spaces will enable us to meet the evolving needs of today’s workforce and equip workers with the tools they need to grow and succeed here in Chapel Hill.”

Triangle Co-Working Community Continues to Grow

The Chapel Hill location is the latest opening for Spaces. Earlier this year, it opened Spaces the Dillion in Raleigh and will open an additional location in Cary at Centre Green in the second quarter of 2019.

With its entrance into the Triangle market, Spaces joins a number of co-working and incubator spaces, including American Underground, HQ Raleigh, WeWork, First Flight Venture Center and The Frontier. With more co-working spaces emerging in the Triangle, Berretta does not believe the market is oversaturated.

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“The Triangle is a high-growth region where we see demand for flexible workspace continuing to rise,” he said, citing the company’s plan to open new locations in Durham and Cary.

“Raleigh’s proximity to top-tier universities and renowned research facilities makes it an ideal location to continue growing the Spaces brand,” said Berretta. “We wanted our first Spaces location (Spaces the Dillion) in North Carolina to be in the Raleigh/Research Triangle Park area because it is home to some of the most innovative and energetic entrepreneurs in the nation.”

The company also recently opened a location at Trade and Tryon in Charlotte, with plans to open a second location in the Queen City in the second quarter of 2019.

Local Market Fits Company’s Strategy

Even with the growth of co-working spaces in the Triangle, the state and region are a good fit for IWG and its co-working brands, said Berretta.

According to Berretta, a recent survey conducted by IWG found that more and more employees and companies are recognizing the benefits of co-working.

“Our survey found that 74 percent of U.S. employees are working at least one day somewhere other than the office and 15 percent work outside of their company’s main office location five times a week,” he said. “Additionally, 72 percent of U.S. respondents said providing access to a huge network of flexible workspace helps them attract more talent. These numbers are substantial and show where the future is heading.”

Spaces members also have access to more than 3,000 locations worldwide, which include the company’s Regus and No. 18 brands.

“Members are able to work out of any location, so it makes working while traveling very simple and allows larger companies with a wider presence the ability to scale up or down depending on their market development strategy,” said Berretta.

Spaces Locations in North Carolina