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January 23, 2019
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Knotel’s Portfolio Expanded by Over 300% in 2018

12/20/18

Agile workspace provider Knotel reports that its footprint more than tripled in 2018 – increasing by 318% -- and it expects similar growth in the coming year.

Knotel, which signed its first lease three years ago, grew in 2018 from 30 locations totaling 600k sf to more than 100 current locations exceeding a total of 2 msf. Most of that growth occurred in New York City, San Francisco and London, with the company planting its flag in Berlin, Sao Paulo and Los Angeles as well. Especially notable was the growth in New York’s Midtown South submarket, where the company completed 28 space transactions totaling approximately 452k sf.

Expansion is expected within all of those markets in 2019, and other major global cities will be added during the course of the year. Longer term, Knotel said it hopes to become the dominant operator of flexible office space in 25 to 30 of the world’s largest commercial centers as demand continues overall.

Knotel – which designs, builds and operates custom spaces for companies of 50 employees or more – was founded in New York City in 2016 and caters to established and growing brands. Today, over 200 companies call Knotel home.

Co-founder and CEO Amol Sarva commented, “Knotel was founded to provide established companies with office space arrangements that fit their needs in a way they have never experienced. They crave flexibility and cost efficiency as they plan their future space needs, and they value speed of execution. They don’t want to be locked into long-term leases when they don’t know what their needs will be beyond the next two years or so. And because many of them really don’t want to build a bureaucratic infrastructure that is irrelevant to their core businesses, they welcome the opportunity to outsource facilities services to us.”

Founded in 2016, Knotel has raised $160 mil in funding, and was named a Business Insider Top 50 Startup and New York's Hottest New Workspace Model. Knotel’s member network includes companies like Starbucks, Cheddar, and The Body Shop.




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