Copyright Los Angeles Times
TailoredSpace opened its newest coworking space in Burbank at 40 E. Verdugo Ave. The space encompasses the entirety of the 25,000-square-foot building and includes amenities such as a podcast/recording studio and a large event space with a patio. “We’re focused on creating well-designed space that’s community-focused, exclusively on suburban markets in Southern California,” said TailoredSpace co-founder Drew Sanden. The TailoredSpace Burbank location opens at a time when demand for coworking and hybrid work arrangements has increased, but coworking providers, such as Neuehouse and Second Home Hollywood, recently closed due to financial difficulties. “We’ve tried to change the management structure to align better with ownership. That’s where the industry is going, so that there is more stability and fewer defaults,” added Sanden. There are now 14 TailoredSpace-branded coworking campuses across Los Angeles, Orange, San Diego, Riverside and San Bernardino counties. It’s nearing completion on a site in Oceanside and will open two additional sites in Old Towne Orange and Solana Beach next year. The company’s coworking offices have an average occupancy rate of 95%, and expectations are strong for the Burbank location, which is already attracting traditional service-based companies, such as accountants, legal, finance and real estate, including higher demand from technology and entertainment industries. The new Burbank site features move-in-ready desk, office, and suites membership options that are available on a monthly basis. Perks include onsite staff, stocked kitchens, 24/7-member access and scheduled member events that further encourage networking and community building. The site is within walking distance of Downtown Burbank’s vibrant retail and restaurant corridor.
