In June Keiko Morris of the Wall Street Journal featured Bell Works in her story detailing how short-term communal office space favored by tech and startup companies move beyond urban enclaves.
Here’s an excerpt:
Communal co-working office spaces such as the ones offered by shared-office giant WeWork Cos. are red hot in big U.S. cities like New York. Now they are making inroads in the New Jersey suburbs.
Co-working startup Vi Coworking LLC opened a site in June at a redevelopment project at Fort Monmouth, after finding success with a 5,000-square-foot co-working space it launched a little over a year ago at the Bell Works redevelopment in Holmdel….
While there is some skepticism that the co-working trend will last, some landlords are embracing it as a way to give life to their buildings and help incubate firms that eventually will lease office space at other of their properties. That was part of Vi Coworking’s pitch to Somerset Development LLC, the company behind the Bell Works redevelopment, said Chris Pallé, Vi’s co-founder.
In the year since its Bell Works launch, Vi’s co-working space has had one of its clients, a video technology startup called Vydia Inc., more than double its workforce and sign a lease for longer-term space in the complex. Vydia Chief Executive Roy LaManna said he credits co-working for helping it attract technology employees.
Somerset is about to launch a second co-working space called Design Lab to bring together professionals in different fields focused on design.
“We look at Vi and Design Lab as incubators and feeders bringing vitality and life on an evolving and continuing basis to Bell Works, so the value to us goes beyond the actual cost per square foot and income,” said Ralph Zucker, Somerset’s president. “We look at those dollars also as marketing dollars creating a building amenity.” Click here to go to the original piece.