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IWG Signs Agreement for New Regus Location in Asheville, North Carolina

IWG will bring a flexible workspace to North Carolina with plans to add in-demand flexible workspaces to Asheville.

By 1851 Staff1851 Staff Contributions
SPONSOREDUpdated 10:10AM 08/08/23

ASHEVILLE, NC – International Workplace Group (IWG), the world’s largest flexible workspace organization with over 3,300 locations across 1200 cities worldwide, recently announced the signing to open a new flexible workspace in Asheville, North Carolina. As a result of the growing demand for flexible workspace, accelerated by the COVID-19 pandemic, IWG is poised for significant growth in both suburban and urban markets across North America. This prominent partnership is an important step as IWG expands its footprint in the region.

 Home to the birthplace of American Forestry and the Biltmore estate, this center will be IWG’s second location in this four-season mountain town. The building is a historical Eastern European retail center with a parking deck and offices on the second floor.  

“We are happy to expand our presence in the Asheville area,” said Wayne Berger, CEO of IWG Americas. “The high foot-traffic area with plenty of shopping and dining options is the perfect place to have a new Regus center.”

Currently 42% of the U.S. workforce is working remotely on a  full-time basis, and the global flexible workspace industry is projected to nearly double in size, from $7.97 billion to $13.03 billion, by 2025. According to JLL, by 2030, 30% of all commercial office space will represent flexible workspaces, whereas today, it is less than 4%.

“The flexible workspace industry is growing exceptionally fast,” said Wayne Berger, CEO of IWG Americas. “The pandemic forced most people to work from home for two years, creating a monumental shift in how employees want to work moving forward, and how companies are supporting their employees and their bottom line. People want flexibility, and progressive companies understand the financial and operational advantages of moving a percentage of their real estate portfolio from a traditional lease model to flexible workspaces. This signals that flexible workspaces and coworking are the future of the global work environment, and IWG offers investors an exciting opportunity to get in now while there is still room.”

IWG offers four flexible workspace concepts under its umbrella to match every kind of business, work style and price point, including professional workplace brand Regus, creative workplace brand Spaces, hassle-free workplace brand HQ and luxurious workspace brand Signature

With over three decades of experience, IWG has fine-tuned its business model to optimize revenue and provide landlords, business investors and property management companies with an attractive opportunity. 

“As opposed to a traditional capital lease, landlords can sign a partnership agreement with IWG and invest the capital in converting the space into dynamic and productive flexible workspace, earning operating income from day one, a higher return on net assets and increased flexibility,” said Berger. “For business investors, IWG represents a unique opportunity to enter the booming flexible workspace industry, which offers wide open territory availability, low start-up costs, simplified operations and more.”

The new signing in Asheville is the latest addition to the IWG footprint, expanding rapidly as it capitalizes on the fast-growing demand for flexible workspaces. The team plans to open several more locations in the region.

“The world is seeing a complete renaissance of the workplace,” said Berger. “90% of employees want to work in a flexible way, 88% of companies have instated flexible arrangements and 50% of employees say they will leave their job if they can’t work flexibly. We’ve been a big part of that evolution, and we are excited to continue expanding in markets across North America, from big cities to small towns.” 

Looking ahead, IWG aims to add 1,000 new locations in North America a year as it continues to attract a variety of landlords, business investors, property management companies, banks and asset managers. 

Commercial landlords can learn more about partnering with IWG here. Property agents and brokers can review more information here. For more information to become a business investor, visit here.

About IWG PLC

IWG provides flexible workspaces in convenient locations alongside industry-leading technology, enabling teams to collaborate better and more seamlessly. It also offers shorter lease commitments, thereby allowing for ultimate flexibility.

IWG companies help millions of people and their businesses to work more productively. It provides a choice of professional, inspiring and collaborative workspaces, communities and services.

Digitalization and new technologies are transforming the world of work. People want the personal productivity benefits of living and working how and where they want. Businesses want financial and strategic benefits. IWG’s customers are start-ups, small and medium-sized enterprises, and large multinationals with unique business goals, people and aspirations. They want workspaces and communities to match their needs. They want choice.

Through its companies, IWG provides that choice and serves the whole world of work: Regus, Spaces, No18, Basepoint, Open Office and Signature. It creates personal, financial and strategic value for businesses of every size, from some of the most exciting companies and well-known organizations on the planet to individuals and the next generation of industry leaders. All of them harness the power of flexible working to increase their productivity, efficiency, agility and market proximity. www.iwgplc.com

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