It’s not just your imagination: co-working spaces really are everywhere in Miami. The Miami Herald reports that data and research group Yardi Matrix crunched the numbers in 20 major markets on co-working leases and found that Miami is leading the pack in one key aspect.
As a percentage of total stock, Miami has the most coworking space at 2.7 percent of the metro’s 50.5 million square feet of space, according to the study. That beats out NYC, with Manhattan coming in second at 1.7 percent.
Why is co-working such a hit in Miami? The study calls out the large number of entrepreneurs and startup businesses in the telecommunications and medical sectors. That could be one of reasons WeWork is expanding rapidly in the city: the company just added its fifth location in the Miami area earlier this month.