Miami’s office market continues to be dependent on coworking firms to fill their spaces, but some landlords are concerned that their absorption rate is becoming too much.
What we can expect from the flex space market
Colliers International’s U.S. Flexible Workspace Outlook report reveals the current and future trends of the market and how it is effecting occupiers and investors.
The report shows that the flexible workspace will continue growing fast, but will begin focusing more on enterprises and corporations as clients. Other companies are also expected to provide the right environment to retain young talent.
Flexible workspaces are still one of the few growing sources of office demand despite taking up only 1.6% of inventory in leading office markets.
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The sector is also impacting traditional leasing models and occupier portfolios as far as design and space utilization. Many landlords are also responding by opening their own flexible workspaces.
Coworking spaces in the tech market has almost doubled compared to other markets.
It is unsure how the market will function during an economic downturn, but it could put a premium on flexibility.
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Gym-coworking hybrids have gained traction recently, allowing members to be productive at work while encouraging them to take care of their physical and mental health.
The 2019 Global Coworking Survey has revealed that there is to be 2.2 million coworking members by the end of this year and identified the state of the industry so far.
Office Depot has been testing out coworking spaces within three of their existing locations in an effort to expand its current services and drive traffic into stores.
Just ahead of its IPO, WeWork has signed four new Manhattan leases to open its “Headquarters by WeWork” offering dedicated to providing un-branded spaces for clients.
Despite the coworking industry seeming congested, operators are not concerned about the competition as each coworking space gears its services to a specific audience.
Flexibility in the workplace has become a common option for workers, but some firms are going further by becoming 100% remote so staff can work from wherever they please.
Coworking firms, such as WeWork and Knotel, have been rapidly expanding their footprint in New York’s Flatiron District as it becomes the city’s hub for shared offices.
British brand Established & Sons have introduced four new furniture designs that aim to create a more comfortable workplace, while also being functional to homes.
Condeco’s newest research paper found that 41% of employers offer remote working, thanks largely in part to major technological advancements that are sweeping workplaces.
Industrious is partnering up with national retail and mixed-use developer Seritage Growth Properties to brings its coworking spaces into five of the retailers locations.
Companies have accepted that wellness in the workplace should be prioritized, but the trendiness of it can overshadow what is most effective — starting from the basics.