Some co-working spaces are closing due to the pandemic, but this one just opened

As some co-working spaces close or reconfigure due to the pandemic, a new one has opened at the Farm Credit Bank Building.

“It started really to be a building showroom,” said Matthew Vos of Murfin Inc.

Murfin and partner Birds Eye Holdings LLC, under the name Delano Investment LLC, purchased the building at 245 N. Waco in 2017.

About a year and a half ago, the group took some unused first-floor space to show future tenants finishes and other things they could have in the building. Interest started growing from potential tenants for a different kind of office space, Vos said.

“We were getting . . . an overwhelming interest in flex space.”

He said that Delano Investment realized “to have that in the building was a pretty big benefit.”

Before it could open as co-working space, a group came in and rented the entire 2,000-square-foot area.

As that group left and more space became available, Delano Investment expanded the office, branded it and made it a true co-working space.

Now, the 5,000-square-foot CoLo Workspace is open — CoLo stands for co-locate — and Vos said it makes sense for a pandemic.

“Actually, it’s been really interesting,” he said. “It’s almost like an outsourcing of office space.”

Vos said some companies are giving employees cost allowances for working from home or other spaces outside of traditional office settings.

“We’ve seen just a shift,” he said.

The majority of the space is for 24 private offices, which start at $500 a month and accommodate one or two people. Vos said there’s also an area for desks, at which people can sit or stand, and they start at $250 a month.

“This seems to be more highly desired and easier to lease to the variety of companies needing space.”

Vos said amenities include Wi-Fi, free covered parking, an ice machine, coffee, a printer and scanner and a new fitness center and locker rooms. There’s also a cafe.

When Delano Investment bought the building, occupancy was at 75%. It’s now at 98%, which includes an additional 6,000 square feet of newly created office space. There’s about 4,000 square feet left to lease in the almost 200,000 square foot building.

Only about 30% of the building’s occupants are working there right now due to the pandemic.

“We’re waiting to see as people come back what things we want to pursue,” Vos said.

He said he’s regularly talking to companies about what they might like to have in the building for themselves and employees.

“We want to be a place that helps them attract really good talent.”

This story was originally published February 1, 2021 at 11:02 AM.