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When CommonGrounds opens it doors, it will join a growing list of other businesses throughout the Downtown area that offer variations on coworking amenities for entrepreneurs and employees of companies opting to forego dedicated office space.<\/p>\n
Use of co-working spaces costs money \u2014 something the local coffee shop does not charge, out right, for the use of a table and chair as you sip on your brew of choice. But professionals in the co-working industry say they provide a number of other benefits, including networking opportunities, ready-access to amenities, equipment and resources you might not own and a professional work environment.<\/p>\n
Jacob Bates, CEO of CommonGrounds, said the secured funding capital pushed them to set the goal of opening about 50 new offices across the U.S. through 2021.<\/p>\n
Opening one of its workplaces in the heart of San Diego was obvious, Bates said in an interview with Downtown News.<\/p>\n
\u201cThere\u2019s an unmet demand,\u201d Bates said. \u201cIt\u2019s a very under-penetrated market. The Generation Z workers and the millennials, are requiring a different type of product.\u201d<\/p>\n
Other companies, including some with headquarters outside California, have also noted the potential for having a coworking operation in Downtown San Diego.<\/p>\n
Chicago-based Novel Coworking, which opened its first location in 2013, laid roots in San Diego 2 1\/2 years ago with a Gaslamp location, 1111 Sixth Ave. Initially, Novel had 35 offices, but the availability has since swelled to 85 spaces as additional floors have become available.<\/p>\n
\u201cWe were 98% occupied within the first eight months,\u201d said Rachel Quinto, regional sales manager with Novel\u2019s San Diego location, referring to the first phase of the operation. \u201cWe\u2019ve seen huge growth.\u201d<\/p>\n
Quinto said coworking spaces are well suited for San Diego \u2014 particularly Downtown, where entrepreneurship has been growing and flourishing in recent years.<\/p>\n \u201cIn San Diego, we\u2019re seeing a lot of business growth,\u201d Quinto said. \u201cPeople are attracted to the affordable and creative options we have available. We\u2019re on a really exciting growth trajectory right now.\u201d<\/p>\n Downtown Works, which operates out of a former law firm building, 5050 W. B St., began offering its amenities in September 2016 and has experienced similar growth, Candace Vanderbilt, community curator, said.<\/p>\n Before Downtown Works opened its doors to the business community, Vanderbilt said the office space was drastically overhauled aesthetically and functionally to mesh with the operation\u2019s mission statement.<\/p>\n \u201cFor us, it\u2019s more than just having space available,\u201d Vanderbilt said. \u201cIt\u2019s about collaboration and creating a sense of community.\u201d<\/p>\n Vanderbilt said she and others working at Downtown Works share in the passion of being a part of a trend that keeps growing.<\/p>\n \u201cThis is an area that\u2019s just blossoming with startup businesses,\u201d Vanderbilt said. \u201cWe\u2019re trying to support that ecosystem.\u201d<\/p>\n As for CommonGrounds, Bates said the operation is being positioned differently from others in the industry space in the hopes of standing out from the crowded pack.<\/p>\n In addition to offering coworking space, CommonGrounds is offering a tailored solutions model known as workplace-as-a-service. The goal, according to Bates and others in the company, is to create flexible workplace products and services geared toward companies ranging from startups to Fortune 1500 enterprises.<\/p>\n \u201cCommonGrounds\u2019 enterprise-grade workplace design fosters an enriched work life environment engineered to help companies attract and retain talent,\u201d Bates said in a January news release announcing the Series A funding commitment.<\/p>\n CommonGrounds\u2019 imminent emergence Downtown came together, in part, through a partnership forged with Pacifica Enterprises, a San Diego-based real estate investment firm.<\/p>\n With Pacifica\u2019s resources in the mix, CommonGrounds\u2019 shared workplace in the Broker Building also will be complimented with several ground-level restaurants and a rooftop deck with panoramic views.<\/p>\n![\"More](\"https:\/\/sandiegodowntownnews.com\/wp-content\/uploads\/2019\/06\/Downtown-News-Coworking-CommonGrounds.jpg\")