- For REITs/Funds
Central Business District Denver, CODemand 200K sfSupply 163K sfRecommendation High-end Modern FlexSunnyside / Highlands Denver, CODemand 80K sfSupply 63K sfRecommendation Executive SuitesCommerce City Denver, CODemand 1.5K sfSupply 0K sfRecommendation Do not Invest
DenSwap's Flex Intelligence Platform translates our proprietary data and real-world coworking experience into insights and actionable strategies that help our clients realize the full potential of their commercial real estate. Stay up-to-date with client demand and capture the upside of flex space throughout your CRE portfolio, then follow up with the go-to-market strategy to win & retain the right tenants.
- For Building Owners
Are you considering transforming your commercial property into a flexible coworking space? Our feasibility reports can provide you with the insight you need to make a confident investment decision. Our team of experts utilizes market data APIs, proprietary information on coworking spaces, and unique consulting expertise to assess whether a given building is suited for a successful flex/coworking business.
- For Flex Operators
Are you considering opening a new coworking space? DenSwap's Demand Analysis Report is a quick validation tool so you can move forward or back off on potential plans. You give us a zip code, and we'll outline the general demographics of the area as they relate to coworking. You'll get a good estimate of how many potential customers are in your area, how many square feet the region can support, and what type of buildout and business model we'd recommend.
- For Building Owners
Business & Space Overview
The coworking space is comfortably designed to support different work styles and needs. The community is friendly and loyal and authentic. Our members are mostly grown-ups, who genuinely love to be around each other, and to meet new people. The neighborhood is growing rapidly, and all trends indicated strong continued growth for the next 5-10 years. There is no other coworking space nearby, and very few work-friendly coffee shops. The landlord is reliable and straightforward, and the rent is the lowest you’ll find anywhere in the vicinity.
10 Year Availability + Expansion Possibilities
Our original 5yr lease term ends in January 2020. We have a pre-negotiated 5 year extension with well-below-market rent, and there's an additional 5 year option to renew beyond that.
In late 2018 we added four 2-3 person offices due to customer demand, and they were filled in the first month. Each office is leased for $1200, and we have regular inquiries about them even without advertising/marketing them.
We have the ability to lease the adjacent 10K/sqft next door, with market research and architectural designs to add an extra 45-50 offices. We predict that these would be filled in 6 months and add an additional 75-95K/month in top-line revenue with only additional $25K-$30K in additional expenses. Have tentative architectural designs as well, and happy to connect new owner with architect and original general contractor (who came in on time and on budget!).
Additional Revenue Generation
The large classroom would be rented much more frequently (at $500/day) is the walls reached the ceiling. Estimate is $6-8,000 to make that change to walls and HVAC.
We have had requests for more dedicated desks, and reconfiguring the general shared space to accommodate that would increase revenue. Dedicated desks currently rent for $450/month; general memberships are $275.
Additional Marketing Opportunities
Signage:
We have the right to space on the shopping center pylon sign, visible from one of the busiest intersections in south Austin.
Our front windows also have increased visibility now due to a new tenant next door, and window signage has been effective in the past at driving new leads.
Social Media:
Our space is well-regarded in the local community, and FB and LinkedIn ads have driven leads when we were actively paying for them ($50-$300/month would generate 10-20 new visitors). We haven't done this consistently in the past year.
Competitive Advantages
Large Classroom/Conference Room
Our largest conference room seats 25-30 people at tables and up to 45 in just chairs. There are very few similarly sized rooms on this side of town.
Extra Touches
LED lighting throughout.
Cambridge sound masking system makes for good acoustics.
Tons of Parking
Unlike most coworking spaces in Austin, we have a large, surface parking lot that always has plenty of available spots for our members and visitors — even when we have hosted events of up to 100 people.
Strong Community
Our friendly south Austin location is full of down-to-earth people with good work ethic and a genuine desire to connect. Most of them are parents and stable remote employees or professionals. It's a wonderful core group of people.
Good Location
Convenient location with lots of restaurants, stores, gyms, and other useful businesses within walking or easy driving distance. Major intersection.
Local Artwork
Through a partnership with a local arts non-profit, we have local art hanging on the walls and get a new curated show every three months.
Daily Operations
We currently have a community manager and assorted member-volunteers who give tours and run the space alongside the owner. None of these are paid positions, and would depend on relationship with the new owner as to whether they would continue in these roles. Seller is willing to help facilitate that, and also to help hire and/or train a paid community manager, if that's wanted.
Current staffed hours are 8-5 M-F; we do have a Brivo RFID entry system for 24/7 members to come and go at will.
About the Seller
Building and growing with this coworking community has been an amazing experience! Due to a recent divorce, and other personal and family circumstances, seller needs to transition to more location-independent, flexibly-scheduled work and is excited to find a new steward for this space and community. Seller is quite willing to help facilitate the transition in any way desired, from training to introducing the new owner/manager personally to each existing member.
