Santa Monica-based flex space operator Cross Campus, Inc. has announced a new chief executive, Shelby Carvalho.
Carvalho was previously the head of finance and real estate for Cross Campus.
She is taking over the helm from Ronen Olshansky, the company’s co-founder. He will continue to serve on the Board of Directors.
“I couldn’t be more proud of the business and brand that we’ve built over the past seven years. In the second half of 2019, the private funding environment shifted which prompted us to examine the business and ultimately decide that a change in leadership, with an increased focus on profitability and operational efficiencies, made sense,” Olshansky said in a statement.
Cross Campus was founded in 2012. It has grown to five locations in L.A., with additional locations in San Diego and Scottsdale. Part of the company’s growth was from its 2019 acquisition of San Deigo-based DeskHub, which added 300 members to Cross Campus.
“Over the last seven years, we have built a formidable platform that competes well head-to-head with the top flexible office operators in the industry. With a strong team at all levels of the organization and the tremendous support of our Board, I do not envision any interruptions to our business as a result of the leadership change,” Carvalho said in a statement.
Cross Campus isn’t the only coworking or flex office provider to grow. In 2018 there was roughly 4.3 million square feet of space leased to coworking companies, which increased to 5.3 million square feet in 2019, according to data from Jones Lang LaSalle Inc.
