Now it’s official: Pacific Workplaces Expands Portfolio with NextSpace Acquisition
July 18, 2017 — Santa Cruz, CA
[Editor’s note: This isn’t news if you read that Nextspace was acquired in What’s Next for NextSpace? on June 29. This is, however, the official announcement from Pacific Workplaces.]
Pacific Workplaces announces that it has acquired various assets from NextSpace Coworking and Innovation Inc, including the NextSpace Brand and Website, and that it is taking over the management of several NextSpace coworking places, including the NextSpace flagship and historical location in Santa Cruz.
Pacific Workplaces CEO, Laurent Dhollande, said: “We were honored to be approached by the NextSpace Executive team a few months ago, as they thought Pacific Workplaces was best positioned to take over the management of several of its coworking locations, bringing our operating expertise to better serve the existing NextSpace communities.”
As part of a multi-party deal, San Francisco-based Pacific Workplaces acquired the NextSpace brand and website, and agreed on new terms with landlords to take over the management of former NextSpace coworking operations. This will bring the number of locations under management by PBC Management LLC, the Pacific Workplaces management company, to nineteen. NextSpace is a legendary name in the coworking industry. NextSpace Santa Cruz opened in 2008 and was one of the very first coworking places in the world, focused on developing a community of professionals that not only share the same office infrastructure but also actively help each other be successful in their respective enterprise. This special ability to tap into a supportive community became known as the “NextSpace Effect”. Laurent Dhollande added: “You don’t need to spend much time in a NextSpace community to see the ‘NextSpace Effect’ in action. It is a beautiful thing! Something precious, which we will cherish”.
To signify Pacific Workplaces’ desire to build on the existing Nextpace winning formula, the coworking locations involved will retain the NextSpace brand, now powered by Pacific Workplaces. Pacific Workplaces will bring to bear more depth and rigor to the coworking operating platform, expand the level of services, grow the communities, and improve the technology environment.
Dhollande added: “The improvements we will make are critical components of healthy coworking operations but mostly back-end related. We will take great care of staying true to the original values and character of the existing communities. In fact, the NextSpace experience will be a great source of inspiration for the rest of the Pacific Workplaces portfolio, which I foresee will permeate throughout the group by osmosis and with the sharing of best practices.”
About Pacific Workplaces (Pac:): Pac: manages 19 shared office space locations, mostly in California, that offer a wide range of part-time and full-time office space including virtual offices, private offices, coworking spaces, and mini-suites with active communities of professionals who help each other be successful in their respective enterprises. Members have access to furnished offices, hot desks, meeting rooms, VoIP telephony, unified messaging, phone answering services, IT support, admin support, online legal library, and to our CloudTouchdown ™ network of day offices and meeting spaces with over 600 locations worldwide, under a pay-per-use hosted model Pac: refers to as Workplace-as-a-Service ™. Pac: partners with landlords to develop and operate coworking and other types of shared office spaces. The Pac: model responds to trends toward a more distributed workforce, increased flexibility, sustainability, the desire to join professional communities, with a growing demand from professionals associated with small and large firms alike. All Pac: centers are operated by PBC Management LLC under the Pacific Workplaces, Enerspace Coworking, and Nextspace brands.