Our team meets in co-working spaces when we need a meeting room. Because most of our team is part-time for now we mostly work remotely. But we've met at the HUB SF and Oakland, as well as Workshop Cafe in the FIDI and had a great experience.
I think co-working spaces are really helpful if you need a place to meet. They are also great places to meet other entrepreneurs. In regards to community, I think it depends on the specific co-working space.