A local agency that provides coworking space is expanding its footprint in Albuquerque’s Journal Center for the first time since 2014.
Office Alternatives is adding 6,000 square feet to its operations at 4801 Lang Ave. NE. Nationwide Building Enterprises LLC was hired to handle the renovations, which includes 20 new offices, a training room and an event center.
The $60,000 project provides a 60% increase in rentable space and is expected to be finished by mid-February, Office Alternatives President Christina Esterly said.
Once complete, the new 16,000-square-foot facility will host 48 offices with rents ranging from $700 to $1,800.
“Post-Covid, people don’t want to sign long-term leases anymore,” Esterly said. “They’re tired of long-term expenses and our industry has become super hot. There’s a huge increase in demand, and we’re hoping to meet that increase.”
Since 2006, Office Alternatives has provided small businesses and entrepreneurs with executive and virtual office space in Albuquerque. The locally owned and operated company saw an increase in popularity after the Covid-19 pandemic, which forced many companies to adopt a hybrid-work environment. As of April 2023, more than 18% of employees in Bernalillo County worked remotely, according to a CBRE office market analysis report.
“I hadn’t even entertained the idea of expanding until [fall 2023],” Esterly said. “But we needed more space because we kept turning away people. We had about 15 people on our waitlist and our revenue went up 52% in 2023.”
