Launch Workplaces Establishes Co-Working Management Services Division for Building Owners
— Franchise business model maximizes commercial spaces’ return on investment —
EDGEWATER, Md., May 23, 2018 – Launch Workplaces, a network of collaborative workspaces owned by The Brick Companies (TBC), today announced a new management services division to help commercial real estate building owners enhance their buildings by opening a co-working center in an existing space with Launch Workplaces managing the process and space once it opens.
The new service line will help solve commonly faced issues by building owners such as the high demand for co-working environments and lack of large-scale tenants in between leases. The building owner maintains the relationship with the tenants and as they grow, the building owner can offer to accommodate them in larger space in buildings they own.
Founded in Washington, D.C. in 1892, TBC owns, develops, and manages commercial and recreational properties throughout the region. Those years of experience made the 2014 opening of Launch Workplaces’ flagship center in Gaithersburg a natural expansion. Since then four additional Launch Workplaces have opened in TBC-owned buildings throughout Maryland and Virginia.
“Owners were calling and asking about opening a Launch Workplaces in their buildings and we thought, ‘we can do more than that,’” said Mike Kriel, chief executive officer of Launch Workplaces. “We developed the idea of a managed business model where the building owner continues to own the business while the Launch Workplaces team brings in its expertise developing hybrid workspace centers to manage all aspects of the space for the owner.”
These co-working services give the owner instant activity in their building and helps to establish and grow relationships with the tenants. When a tenant’s business has grown and is looking for more space it’s likely they will turn to the building owner for their next office, Kriel said. Small businesses and entrepreneurs benefit by being offered furnished offices designed to best fit their work style, shorter leases, flexibility to grow, and the chance to advance their business goals by working in a dynamic environment with like-minded people.
Kriel continued, “We’ve seen a shift in the preferred type of workspace from traditional workplaces to entrepreneurial communities, with collaboration and educational programming in the workspace. The demand for this type of space continues to increase and our new consulting service answers this demand.”
About Launch Workplaces
As the co-working division of The Brick Companies (TBC), Launch Workplaces are hybrid workspace centers for individuals, startups, and small companies to grow through an entrepreneurial community, collaboration, and educational programming environment. Launch Workplaces are currently operating in buildings owned by TBC in Gaithersburg, Edgewater, Rockville and Towson, Md. and in Tyson’s Corner, Va. Launch Workplaces are home to small businesses, entrepreneurs, and innovation-focused teams from the Inc. 5000 and are designed for companies looking for simple workplace solutions to get serious work done. For more information visit www.launchworkplaces.com.