{"id":1004790238,"date":"2026-03-04T03:46:22","date_gmt":"2026-03-04T11:46:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004790238"},"modified":"2026-03-09T07:26:05","modified_gmt":"2026-03-09T15:26:05","slug":"new-state-buys-vast-in-united-franchise-carve-out","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/new-state-buys-vast-in-united-franchise-carve-out\/","title":{"rendered":"New State Capital Buys Vast Coworking in Carve-Out"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/03\/image.png\"><img loading=\"lazy\" decoding=\"async\" width=\"768\" height=\"576\" data-attachment-id=\"1004790242\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/new-state-buys-vast-in-united-franchise-carve-out\/image-58\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/03\/image.png\" data-orig-size=\"768,576\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Venture X Boca Raton\" data-image-description=\"&lt;p&gt;Image courtesy of Grover Corlew.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Venture X opened the space in July 2025.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/03\/image.png?w=768\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/03\/image.png\" alt=\"Reception shot of Venture X's flex office in Boca Raton, Fla.\" class=\"wp-image-1004790242\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/03\/image.png 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/03\/image.png?resize=300,225 300w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \/><\/a><figcaption class=\"wp-element-caption\">Vast Coworking Group&#8217;s Venture X opened a 30,000-square-foot flex office in summer 2025, in Boca Raton, Fla. <br><em>Image courtesy of <em>Grover Corlew<\/em><\/em><\/figcaption><\/figure><\/div>\n\n\n<p>New State Capital Partners has acquired the international platform Vast Coworking Group, as a carve-out from United Franchise Group.<\/p>\n\n\n\n<p>The deal marks the buyer\u2019s second platform investment in Fund IV, as well as its third corporate carve-out since fall 2024. Fund IV closed in March 2025 at $700 million, which the company raised in less than six months.<\/p>\n\n\n\n<p>Headquartered in West Palm Beach, Fla., Vast Coworking consists of three brands, namely Venture X, Office Evolution and Intelligent Office. The coworking platform has more than 200 locations in the U.S. and internationally, amounting to 2.7 million square feet of office space and serving approximately 70,000 members. Co-founder Jason Anderson will continue as CEO.<\/p>\n\n\n\n<p>Morgan, Lewis &amp; Bockius worked on behalf of New State Capital, while Ice Miller and Boxwood Partners advised United Franchise Group on the deal.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-coworking-market-anticipates-sustained-demand\">Coworking market anticipates sustained demand<\/h2>\n\n\n\n<p>Discussing <a href=\"https:\/\/www.commercialsearch.com\/news\/coworking-industry-trends-to-keep-an-eye-on\/\">coworking industry trends<\/a> with <em>Commercial Property Executive<\/em>, Anderson recently noted<em> <\/em>that &#8220;2026 will be the first office year that CRE will have a flex-first approach.&#8221; As employers adapt to the current return-to-office expectations, hybrid work no longer serves as an experimental option, but increasingly becomes a structured component of office culture. <\/p>\n\n\n\n<p>This shift is visible among large occupiers, such as Fortune 500 companies, which have cut 60 to 80 percent of traditional office space, Anderson added, creating more opportunities for coworking providers to cater to employee needs.<\/p>\n\n\n\n<p>As of January 2026, the coworking sector had 161.3 million square feet of office space across 8,973 locations in the U.S., accounting for 2.2 percent of the total leasable office inventory in the country, according to CoworkingCafe. <a href=\"https:\/\/www.commercialsearch.com\/news\/top-markets-for-coworking-space-share-commercialedge\/\">Key markets include<\/a> Manhattan, with 12.5 million square feet of flex office space, followed by Chicago, Los Angeles, Washington, D.C., and Dallas-Fort Worth.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is the second platform investment the buyer has made through a $700 million fund that closed last year.<\/p>\n","protected":false},"author":3619,"featured_media":1004790242,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[52118,21783,23891,21742],"tags":[52499,34668,52498,42776],"class_list":["post-1004790238","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coworking","category-investment","category-national","category-latest","tag-intelligent-office","tag-office-evolution","tag-vast-coworking-group","tag-venture-x"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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