Tuesday, April 24, 2018

The Shops Buckhead Atlanta Lands Upscale Workspace Business No18

The Shops Buckhead Atlanta has secured a lease with No18, a new-to-market flexible workspace business.  Slated to open later this fall, No18 will be located at 3017 Bolling Way and will occupy nearly 32,000 square feet of retail space.  The location at The Shops Buckhead Atlanta will be the Swedish firm's first in the United States and according to its website just its third overall.  
Interior of an existing No18 location 

The Shops Buckhead Atlanta distributed a press release earlier today announcing the new lease.  

"No18 will offer a range of curated, flexible workspace options that will cater to the individual needs of Atlanta’s diverse mix of companies. The amenity-rich offerings will help boost productivity and foster a creative and rewarding working lifestyle. The bright and inviting space will be housed in the center of one of Atlanta’s most energetic and convenient neighborhoods, walking distance to public transportation and steps away from renowned restaurants, high-end boutiques, and prestigious hotels."

It's worth noting that No18 is about three-tenths of a mile from the St. Regis but is closer (about a half mile) to both the Quality Suites and Staybridge Suites [both limited service hotels] than it is to any other "prestigious hotels."  

No18, which began in 2012 and was acquired by "global operator of flexible workspaces" IWG plc (formerly Regus) in 2017, is meant to be the sibling offering to that of fellow IWG owned business, SPACES, another flexible working concept.   

Both SPACES, with five Atlanta locations - Colony Square, The Battery Atlanta, Perimeter, Midtown East & Avalon - and No18, face significant competition in the growing flexible workspace business.  

Homegrown business Roam has six Atlanta locations, including one in Buckhead at Tower Place, as well as WeWork and Industrious also with Buckhead locations amongst a growing presence for each brand in the Atlanta market.

The addition of such a pretentious, over the top flexible work space to Buckhead Atlanta, already struggling to attract more mainstream customers is a bit of a headscratcher.  The upscale development, which opened in 2014, has been plagued by the perception that it's "too high-end" and does not have enough approachable restaurants and retailers.  While the addition of Bealls Outlet, Burlington [Coat Factory] or even Chick-fil-A is not what the center needs, I'm not sure this is either. 

Are you surprised by the opening of No18 at The Shops Buckhead Atlanta?  Do you currently work in a No18 type concept? If so, where and why?  What do you think could be added (or subtracted) from The Shops Buckhead Atlanta to make it more appealing?

Please share your thoughts below 


Coolio said...

Weird decision. It's called the SHOPS of Buckhead, so now they added WORK to the name? Hmmm...

Also, I seems like a desperation play by the (Work)Shops of Buckhead. They can't keep a tenant, so they try this long-term play, figuring that even though there may be a revolving door of "companies" that use this space, the main tenant will always have rent money to pay. How much will they charge people to "work" there?

And for the life of me I don't understand why you would want to erect a business in a place like this. Can't other "businesses" steal your ideas, because it's an open space? Has anyone on here used these spaces, and what are they good for, really?

Anonymous said...

I mean think about it.. there are a ton of these places, obviously there is a market for them

I've personally been to several. They are great if you need an offsite place to meet, are out of town, or if you're a small business and just getting going.

So yes, there is a reason these exist, and are already super popular.

Anonymous said...

Seems like it is best for upstart companies that don't have the funds to devote to a full office so they share the costs of conference rooms, reception, etc. with others. that makes sense, except not so much in a really high rent district.

Anonymous said...

Screams of desperation for Shops to allow such a "business". "Upscale" SMH

ImAndy said...

Companies are not moving here because they are trying to save rent or be cheap. I moved 14 people to the Tower Place wework office (one of their largests suites) for a few months while we went through a renovation and it was almost twice as expensive as market rent would have been at Terminus next door.

Companies are going to these places because the employees actually like it. My staff of less-than-thirty-year-olds were very upset to leave while I was not. There is actually much more privacy at these offices than most traditional offices as the wave of "open office" has come through. There is a phone booth or meeting room for anyone that wants one at most of these places.

These will continue to pop up for as long as they are getting such high market rent.

Anonymous said...

More "Fake It Till You Make It". The people that can least afford this are the ones that buy into the luxury, high end conspicuous consumption of goods, and now services. I personally would not hire/do business with someone that feels it necessary to spend that outlandish sum on - rent - it shows and lack of financial literacy in business. Starbucks allows people to shake them down and loiter aka "conduct business" rent FREE.

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