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9/19/23
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SimplerSpace, a new coworking option intended to provide affordable and efficient workspaces in office buildings, has just been launched by company founders Drew Sanden and Scott Maples. The company opened its first 8k sf coworking site at 701 Kimberly Ave in Placentia in August with plans to add a 17k sf site in Carlsbad and a 7.5k sf site in Pomona in the next few months.
SimplerSpace partners with landlords to reposition vacant office space with minimum investment, creating new coworking space for small business owners and entrepreneurs who need small offices but without the frills or long-term commitment. In each case, SimplerSpace can backfill existing high-density office space and provide landlords with immediate occupancy at market level rent with significantly reduced tenant improvement expenses.
“To keep costs down we’re utilizing as much of the existing tenant improvements as possible. Our goal is to reduce capital outlay, reduce downtime for any office improvements, and provide sustainable cash flow-driven returns for landlords who have too much vacant office space,” said Sanden.
Target tenants for the office space are owners and entrepreneurs of small to mid-sized companies who live near the SimplerSpace sites and require an alternate work location outside their home.
“There’s a large portion of the business community that can’t sign traditional office leases because the spaces are too large, and the lease commitments are too long. Moreover, the rent for highly amenitized coworking operations are often too costly. SimplerSpace provides dedicated offices to businesses who prioritize affordability and flexibility over highly amenitized space. How and where people work is changing. We believe SimplerSpace provides a compelling solution for both the landlord and the entrepreneur,” added Sanden.
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