Brookfield-based
Better Cowork, a company that converted vacant commercial buildings into coworking office space, is shutting down, according to a LinkedIn post from a Better Cowork representative.
This comes after all three of Better Cowork's properties, all in Waukesha County,
were sold to other entities.
"Although brief, this adventure has been incredibly rewarding," Better Cowork community and social media manager
Natalia Román posted on LinkedIn earlier this week. "I continue to believe in the coworking model and was thrilled to witness our spaces begin to thrive with individuals from diverse professional backgrounds."
Román noted that the Pewaukee coworking space attracted 34 members in the four months since its opening.
State records posted last month show that Better Cowork sold its building at W239 N3490 Pewaukee Road in Pewaukee and its building at 12500 W. Bluemound Road in Elm Grove to an affiliate of Kenosha-based
Bear Real Estate Group for $3.3 million. Better Cowork bought the two buildings for a combined $4.7 million, according to state records.
Better Cowork purchased the Pewaukee building in May of 2023, a former Inlanta Mortgage office building, for $3.2 million, upgraded it and opened the space late last year. The renovation included the buildout of a variety of spaces including open spaces, meeting spaces, private offices and suites, as well as new technology and furniture.
The company will continue to operate out of the Pewaukee space until the end of April, Román's post said.
The Elm Grove building, a former Advocate Aurora clinic, was purchased by Better Cowork in January of 2023 for $1.5 million.
Better Cowork also owned a third Waukesha County building, a former Boston Store Furniture Gallery, at 18615 W. Bluemound Road in Brookfield. The company purchased the building in July for $1.35 million. Then a record posted in January shows that Better Cowork sold the building for $1.5 million to a Milwaukee-based entity.
Representatives from Better Cowork and Bear Real Estate Group did not respond to requests for comment.
