On the Record: Further expansion in sight for Portland’s Cloudport Coworking
Photo / Jim Neuger
Josh Corbeau, co-owner of Cloudport Coworking, says his job is mainly about connecting members with the resources they need for their businesses. He is shown here at 16 Middle St.
As the co-owner of two Cloudport Coworking hubs in Portland, Josh Corbeau has a front-row seat to the intersection of business and real estate in Maine’s largest city. Mainebiz sat down with him and Casco, a Great Pyrenees Mastiff who will turn 10 on Aug. 20, at the 16 Middle St. location that opened last year. Amenities include showers and a touch-screen multi-flavor water dispenser.
Mainebiz: How much space do you have in total?
Josh Corbeau: We have 11,000 square feet here and at Federal Street we have 6,500 square feet, plus annex space and two adjacent buildings.
MB: What led you to co-working?
JC: My business partner, Nik Caner-Medley, and I had a little office on Forest Avenue, but we saw a need for higher-end, fully furnished offices at low-barrier entry costs that would let startups project a professional image without having a burdensome outlay of capital.
MB: What was the market like when you opened on Federal Street in 2016?
JC: It wasn’t highlighted back then. WeWork was in its infancy — they were starting to get going and getting some branding recognition nationally. There were only a couple of places in town then and we thought there was room for another well-appointed one, and it’s been great ever since. As of last week, we had just north of 350 members between the two spaces.
MB: How are the two locations different?
JC: Federal Street is in an old warehouse, which has its own characteristics — it’s on the first floor and is bright and airy with picnic tables on the sidewalk. Middle Street is double the size and, being brand new, a bit more executive-level with elevated fittings and furnishings.
MB: What are the price options for members?
JC: We offer day passes for $50 a day, and this summer we’re offering a special weekly pass in July and August for $150 for out-of-town travelers who might need to come into the office and work for the week. We may roll that into September. Month-to-month rates start at $175.
MB: Are there also long-term arrangements?
JC: We offer one-year leases for companies that need to have that type of contract, which is mostly your larger corporate companies. For the smaller businesses we keep things flexible with just month-to-month.
MB: What can you tell us about your members?
JC: We have all kinds of businesses, all kinds of startups — the whole gamut. Here on Middle Street, we have PR companies and real estate companies as well as the Maine Connectivity Authority and Maine Technology Institute.
MB: What are some of the challenges in running a successful coworking business?
JC: Coworking is a very appealing model, but it’s not the cash cow that most people think it might be. That’s mainly because of the expenses — the WiFi, the printing, the coffee, the cleaning and everything that goes along with it.
MB: Anything you’ve learned from industry peers?
JC: River Horn, our community manager here, and I went down to Boston for a national coworking convention in April, and we brought back some great best practices, ideas and technologies that we’ll be implementing.
MB: Any examples you can give?
JC: We’re looking at trying to implement AI into automation of answering emails quickly, or integrating an AI chatbot into the website to quickly get answers to potential customers and clients. Offering the option to directly book meeting rooms online could also be one thing we might explore.
MB: What’s a typical day like for you?
JC: Every day’s different, but it’s really about making sure everybody’s needs are taken care of. Our job is to connect them to the right resources — whether it be bringing them to MTI and introducing them to [Entrepreneur-in-Residence] Matt Hoffner, connecting them with SCORE or sending them to the right bank to get funding for their business. Our members often collaborate, exchange services and hire each other, creating a built-in network that supports business growth and shared success.
MB: Would you ever add another space — and would it be on or off the Portland peninsula?
JC: It’s something that we’ve talked about and are looking into, but we feel on-peninsula is saturated. Our next play will be off-peninsula or a neighboring town to create that hub-and-spoke.
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