Flexible Office Research & Industry Trends

Read the Latest Reports from Top Industry Analysts

JLL The Investor

Why large flex-space operators are looking to expand

Offices around the world were left empty during the pandemic, making business particularly tough for some flexible-space operators as occupiers reacted to economic upheaval. Now, some of the larger operators are looking to capitalize on challenges in the sector, pushing ahead with plans to expand.

In June, listed flex-space group IWG took over 30,000 square feet of office space in Hong Kong that had been leased previously by another flex operator. U.S. groups Serendipity Labs and Industrious are also in a strong position to expand, says Ben Munn, managing director, flexible space at JLL.

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Moody's Analytics

COVID-19 Will Force the Office Sector to Evolve (Further)

(Businesses) may choose to lease space in nearby suburbs, not too far from their original CBD base. This minimizes disruptions like having to deal with employee relocation costs (if the choice of suburban space, for example, is less than 25 miles away from the original CBD location), and may translate to savings in rental costs given that suburban office space tends to be cheaper than CBD options.
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Cushman & Wakefield

Recovery Readiness Webinar

Watch the webinar to hear Cushman & Wakefield’s Recovery Readiness Task Force (RRTF) discuss the Recovery Readiness Protocols that address many questions pertaining to the eventual return to the workplace post-COVID-19 recovery, outlining some of the best thinking and practices our more than 53,000 professionals have compiled across the globe and with the help of insights from partners.

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JLL

COVID-19: Workplace continuity Preparing for re-entry and reimagining the workplace

Gaining a competitive advantage in the post-COVID-19 world means adopting a new distributed workforce ecosystem and re-imagining the workplace of tomorrow.

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Commercial Real Estate

Surge in demand for serviced offices as many people abandon working from home

Companies providing serviced office space are experiencing a huge upsurge in demand from people who are finding it too hard to work from home, with kids off school, too many distractions or not enough usable work space.

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Commercial Property Executive

Coworking vs. Coronavirus: Overcoming Challenges

The coworking industry gained popularity due to its flexibility, a vital characteristic during the coronavirus pandemic.

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Globe St.

How Occupiers Can Adapt to the COVID-19 Pandemic

Putting your people and portfolio in the right position—a healthy place—requires a strong plan and platform. CRE occupiers seeking continuity in the age of coronavirus are finding value in versatility.

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Commercial Observer

Do We Need Offices? Coronavirus Provides a Wide-Scale Work-From-Home Experiment

Companies forced to switch entirely to working from home because of coronavirus have provided a large-scale case study for remote work. Experts think it will reshape the way companies see offices in the future.

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Gensler

What Happens When We Return to the Workplace?

(Before) we can ask people to return to the office, we’ve got to make sure they feel safe, healthy, and valued in their workplace. And, while it’s too early to understand the full extent of the new skills and habits we’re developing while working en masse from home, it’s not too early to start planning for how we can return hundreds of thousands of people to the workplace once the quarantines end.

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CBRE

Reopening the World’s Workplaces

Preparing to reopen requires the development of detailed plans for each location, reconfiguration of the physical environment to support social distancing practices, and continuous communications.

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Cushman & Wakefield | CoreNet Global

The primary benefit of coworking is the flexibility it provides. It is turnkey and can be utilized to ramp portfolios up and/or down with greater speed. The flexible workplace reduces the time required to access new space, the cost of initial capital expenditures to build out the space and the long-term financial liability of a traditional lease by providing occupiers with instant access to a turnkey, fully-furnished and tech enabled workplace.

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Instant Offices

Corporate organisations are looking for larger and more agile workspaces, which is symptomatic of a global move towards more flexible lease terms.

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NAIOP

Coworking Flexes its Muscles

Shared office space appears to be the fastest-growing trend in commercial real estate. The rapid growth in coworking, which has forced commercial real estate companies to rethink how they plan and deploy office space, doesn’t appear to be slowing down anytime soon.

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Cushman & Wakefield

Increasingly perceived as a strategic necessity by landlords and investors. Coworking or flexible offices are becoming a staple in buildings.

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CBRE

Explore Partnership Opportunities with third-party operators. Seeking out partnership agreements may allow landlords to benefit from an increased income stream, therefore negating some of the associated risk with this sector.

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Cushman & Wakefield Strategic Consulting

The niche flexible segment should continue to mature and expand, potentially boosting its share of class A office space nationally to as much as 10% by 2028. This represents significant growth, but remains a small enough share that broad risk from flex tenants is not a concern

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JLL

Given industry shifts, flexible workspace and shared amenity spaces are projected to encompass approximately 30% of the office market by 2030.

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Gensler

Respondents who report having variety and having a choice are more likely to report having a great experience. That means the right mobility strategy should leverage amenities that create more choice and facilitate the work we need to get done.

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The Instant Group

2018 showed significant market shifts with an increase in corporate clients looking for flex space. This year alone saw an increase in demand from corporate clients of 21%.

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JLL Research

Right now, flex space inventory accounts for less than 5 percent of U.S. office stock. There’s not a single U.S. market that’s oversaturated.

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Colliers

Downturn Ready? – Since the vast majority of flexible workspace came online after the Great Recession (late 2007 to mid-2009), its performance during a downturn is untested, but it could provide a buffer to landlords as occupier clients put a premium on flexibility during a downturn.

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Colliers

Flexible Workspace: Five Trends to Watch in 2020

We anticipate operator growth in fringe districts of tier one markets and further expansion in tier two and three markets. While we have been talking about the uptick in freelancers and the gig economy in urban markets for several years, we see suburban operator growth being driven by large scale occupiers executing flexible working policies for their employees based in decentralized locations — driven by larger cohorts of aging millennials moving to suburbs, and enterprises embracing more decentralized portfolio strategies.

We also see franchising to be a major driver of flexible workspace growth in suburbs and decentralized locations in 2020.

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