Novel Coworking is gearing up to open their first location in the Bay Area within a newly refurbished six-story San Jose building.
The space boasts a beer tap in the common space, LED-lights and an Amazon Echo that turns the office into a “smart suite.
Now, the company hopes to lease space in the tower just next door to the new location to help meet its goal of increasing its overall footprint by over 25% next year.
Novel differs from others coworking companies as it owns the buildings it operates out of, rather than taking out leases.
Each of its locations averages around 80,000 square feet of space.
In comparison, WeWork’s spaces average around 40,000 square feet, while IWG averages 17,600 square feet.
Despite uncertainty about coworking due to a mismatch in obligations between coworking tenants and coworking companies, it seems that Novel is all in on their model.