Co-working Spaces: The Future of Small Business Real Estate

A common question we’ve been asked is “why a co-working space?” There are also a few people that have never heard of the concept but once we explain it to them, they are immediately sold on the idea. Still the answer is this common simple. Co-working spaces are the way of the future when it comes to business real estate.

Co-working spaces offer an affordable, flexible and comprehensive option for small-medium business owners and budding entrepreneurs to work and develop their brand. But the industry is also seeing an increase in occupancy by members of large corporations using this as an option for day to day business transactions. This is likely because they want to tIn addition to the affordability co-working spaces provide the option of working in a collaborative environment where you can come to work, and also network with individuals from a variety of industries. With access to professional services, comfortable and skillfully designed work spaces ranging from communal lounges to private offices and boardrooms; Co-working spaces provide individuals the flexibility to work when and how they want without the pressure and stuffy atmosphere of a traditional office.

Currently Toronto ranks 3rd behind London and New York for the most growth in co-working space availability per year. However, with growing popularity for this modern approach to business real estate, supply in Toronto is expected to exceed demand with many of the existing locations already functioning at 100% occupancy. Just outside of Toronto, Mississauga is a steadily growing city that houses 40% of Canada’s business headquarters. It is also home to Canada’s largest and busiest airport serving over 50million travellers this past year. The majority of its population is comprised of entrepreneurs and business professionals, making it the perfect place to continue the growth of such a promising industry. The owners of BriteSpace Offices are excited to be a part of this growth, bringing more workspace options to Mississauga and the surrounding areas!

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