One Renaissance Tower has a new addition: Spaces.
A co-working office that opened in December 2017, Spaces is owned by Luxembourg-based company IWG plc and its subsidiaries Regus, which has various co-working spaces. Traded on the London Stock Exchange, IWG brings in approximately $2.2 billion in revenues annually with workplace locations in over 1,000 cities and 114 countries worldwide.
Michael Berretta, Vice President of Network Development for Spaces’ American division, said Spaces chose downtown Phoenix after a company analysis found a demand for office space and an existing customer base.
“The growth and economic situation in downtown Phoenix right now is showing good strength,” Berretta said.
With over 2.3 million members globally, the downtown clientele includes customers from Renaissance Towers’ Regus location, which is closing now that Spaces is open.
Berretta said One Renaissance Tower’s remodeling and updating also attracted Spaces.
“The renovations that are going on in that particular building are outstanding. The end result is gonna be a lot of health clubs, restaurants. There’s going to be this awesome outdoor space almost like a public park up on the roof.”
Spaces’ construction is still part of those renovations Berretta anticipates. Its location on the 18th floor is completed as the 19th floor continues with construction. The 19th floor is set to open Feb. 12.
What sets Spaces apart from other co-working offices is the flexibility customers have, commented Berretta. Customers who purchase memberships in Spaces’ Business Club get benefits such as discounted rates for meeting rooms, private storage lockers and phone booths, mail handling, and access to work at any of over 3,000 locations around the world owned by IWG.
Sara Myles, Center Manager for Spaces downtown, said Spaces also offers a greater variety of ways people can work; customers have multiple options available to them aside from membership in the Business Club, including private offices, dedicated desks in communal areas, or even access to Spaces for just one day.
Prices range from $30 for daily use of Spaces to a starting price of $579 a month for a private office. A phone and call answering center, Wi-Fi and all necessary office furniture are included in the pricing.
Myles said those with Business Club memberships can access Spaces during office hours from 8:30 a.m. to 5 p.m and those who rent private offices have 24-hour access to their offices.
Myles believes that working with other people in Spaces improves workers’ productivity. “Everybody shares everything here, so they kind of bounce ideas off of each other,” she said.
Chris Smith, a Community Associate at Spaces who helps Myles manage the downtown location, said he enjoys the work environment.
He said he decided to start with Spaces because he was already working at Regus, and he thought it would be a good opportunity.“Everything about Spaces is pretty awesome and unique. It’s very different from many other co-working places that I’ve ever seen,” Smith said.
Contact the reporter at Thomas.Triolo@asu.edu.