Has co-working reached market saturation?
Post-Office, a year-old co-working concept in Underground Atlanta, is closing its doors for good October 13, Curbed Atlanta Thursday first reported.
Post-Office announced the news on the homepage of its website.
"Post-Office Downtown was a prototype that helped us better understand the challenges we faced and helped us define the core principles that will make the transition to a post-office world viable," according to the announcement on the company's website.
"We have failed to create a sustainable platform for working everywhere. For this, we’re deeply sorry. We considered every option before making the difficult decision to end the product that brought us together."
And while the downtown co-working space is closing for good this weekend, "we’re going back to the drawing board on office evolution and hope our efforts thus far have started to contribute toward cultural shifts around the workplace."
Post-Office, which offered a pay-per-use model, was one of the first tenants to open under WRS Inc., the new Underground Atlanta developer that's currently revitalizing the mixed-use project.
Has co-working reached market saturation in Atlanta?
In downtown alone, there's Switchyards, Alkaloid Networks, FlatironCity, and Kollective South, to name a few.
Through Midtown and Buckhead, several of the larger co-working companies like Industrious, WeWork, and Spaces have multiple locations in each neighborhood.
"Luxury" co-working concept No.18 is slated to open at The Shops Buckhead Atlanta any day now.
WRS did not immediately respond to What Now Atlanta's request for comment.