There’s certainly a boom going on in the Seattle area when it comes to co-working facilities — flexible spaces that allow entrepreneurs to shrink or expand based on their needs without onerous lease terms. WeWork, Impact Hub and many other organizations have laid down roots, hoping to tap into the region’s burgeoning entrepreneurial community.
Now, a Bellevue-based co-working space known as ExtraSlice is expanding its footprint with the help of Washington Partners and The Benaroya Company. ExtraSlice’s new 16,000 square foot space opens June 1, marking a significant expansion for the organization beyond its previous home in Bellevue.
Started in 2014 by Binu Reghunathan — a former Oracle and Amazon engineer — and Meghana Subramanian — a former Point Inside and IBM engineer — ExtraSlice offers flexible office space arrangements targeted at technology companies.
The new co-working space will be located at Benaroya 1-90 South at 3600 136th Place SE in Bellevue, with ExtraSlice co-founder Subramanian saying that the new space will create a unique home for startups. “Now there will be a place for tech startups to work, create, develop, evolve, collaborate, launch and grow,” she said. In addition to many of the amenities found at shared offices, ExtraSlice offers services such as legal, engineering and HR support.
Pricing tiers have not yet been set, but ExtraSlice says they can accommodate between 300 to 450 members depending upon the memberships they purchase. The monthly memberships will range from about $49 per month for a basic membership to $499 per month for an office membership.
Other co-working spaces are targeting Bellevue, which has a growing technology and entrepreneurial community which includes companies such as Smartsheet, Expedia, Concur and Apptio. Impact Hub now offers its co-working space, event space and innovation lab in downtown Bellevue, and WeWork — with multiple locations in Seattle, including plans for a new WeLive residential location — is said to be looking at options in the city.
You can see GeekWire’s list and map of many of the co-working spaces and incubators in the region here. In fact, so many have popped up in recent years that some have wondered whether there’s an overabundance of these types of spaces. Others argue that there’s a fundamental shift going on in traditional real estate, and the new co-working spaces are just scratching the surface of what’s to come.