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CubeSpace, a coworking space and community based in Portland, Ore., that we’ve featured previously (see Dawn’s interview with co-owner Eva Schweber) has announced that it is to shut its doors this Friday, June 12, following negotiations with US Bank, its landlord.
It is a great shame to see an established and well-liked coworking community being forced to close. As Imran noted in his post “Can Coworking Spaces Be Profitable?“, coworking spaces often run on paper-thin margins, sometimes only just breaking even, or relying on being subsidized by a sponsor. Despite increasing demand for coworking space, the tough economic climate means that many of these communities will need to discover innovative ways to generate revenue in order to survive.