Florida-based franchise adds third new coworking space to San Antonio

Florida-based coworking and flexible workspace franchise Venture X – part of the United Franchise Group family of affiliated brands and consultants — continues its rapid Alamo City expansion with the launch of its third coworking space in San Antonio.

The Venture X San Antonio-Northwest location will move into a 35,000-square-foot space later this summer on the newly renovated 8th and 14th floors of the 14-story San Antonio Northwest Center, located at 7550 IH-10 West.

The franchise owner, San Antonio native Jim Garrett — an entrepreneur and former naval aviator, director of a Washington, D.C. think tank, IT consultant, advertising agency CEO and professional race car driver — is a Trinity University alumnus who holds an MBA from the University of New Haven.

"Any company, entrepreneur, or work-from-home employee will love coming to work here and will be proud to bring guests or clients to the space," said Garrett.

The new location offers flexible workspace options geared toward both companies and individuals, with dedicated and shared desks available as well as private offices. It also features a gym, reserved covered parking and an on-site restaurant. Members also have access to a cafe and conference and training rooms.

The local Venture X expansion is part of a boom in demand for coworking and flexible workspace options, Rubin Beckner, Venture X director of marketing, told the Business Journal. In 2018, Venture X had fewer than 10 locations. Today, it has nearly 50.

Venture X's business model relies on a franchisee signing a lease, adding amenities and then reselling memberships locally.

And with more businesses moving to San Antonio — and with the federal government's real estate arm, the General Services Administration, pivoting toward policy changes that enable them to use more flexible long-term office space — San Antonio's strong Department of Defense connections make the city a desirable location for the company, Beckner said.

The Venture X San Antonio-Northwest space is intended to accommodate some 300 members.

"What a nice high-end hotel does for housing, we do that for businesses that need office space infused with hospitality and amenities," Beckner said.

The three locations of Venture X franchises in San Antonio are, to some extent, designed to attract different demographics, he added, since 80% to 90% of members live within a 5- to 10-mile radius of their workspaces.

The 25,000-square-foot original Venture X location, on the North Side in the medical district, has many members who work in health care. It's remained more than 95% occupied since its launch in 2017.

The 12,000-square-foot second location, launched in March, is tucked away in a retail shopping center in the Castle Hills neighborhood. It's already at more than 60% capacity and looking to expand, said Beckner, adding that it attracts many home-based businesses.

Because the new northwest space is located near prominent highways and the airport, it may appeal to more established corporations, Beckner said.