Officebroker.com is rebranding as Officio to move away from the broker model and aid clients in finding long-term solutions, rather than completing short-term goals.
Hospitality becomes vital in successful serviced offices
Modern day serviced offices have become more than just a place to get work done— they are laced with posh furniture and endless streams of coffee. This may sound like a high-end hotel, but many serviced office providers are upping the ante when it comes to workplace design and hospitality services.
This marks a shift in the office market towards more hospitable environments rather than traditional models.
While it has become more popularized in the past few years, serviced offices really emerged when Adam Neumann and Miguel McKelvey started WeWork. Now, many brands are on the market with a huge variety of services and features.
As the coworking and serviced office industry grows, many niche brands have taken hold as well, such as female-centric companies The Wing, Hera Hub and The Riveter.
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Even hotels have started making their mark in the coworking industry by including offices within certain locations.
“The market is looking really good and there’s a lot of demand supplying the influx of supply,” said Amanda Lim, who runs estate agent Knight Frank’s flexible office solutions desk in London. “That demand pool is changing: more corporates are looking at flexible workspace on top their primary offices, so providers now need to offer options for corporates.”
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JLL research revealed that Dallas-Fort Worth is ranked 12th out of the country’s top 15 coworking and flexible space markets, taking up 3 million square feet of space.
Office provider LABS has launched its 96,100 square foot flagship property LABS House in Bloomsbury, London that features coworking, offices, and full-service dining.
Cool office interiors are ideal at first glance, but looking into a company’s principles, such as gender equality and flexibility, will be the factors that retain talent.
Colliers International revealed the success of the office market last year due to high demand for coworking and tech firms, but predictions for 2019 are uncertain.
Shared office space providers as tenants have become the norm for many landlords and building owners, and now many REITs have adopted coworking as it continues to expand.
Brookfield Properties has teamed up with Convene to spruce up the 73,000 square foot Brookfield Place into a full-service events venue that accommodates up to 500 people.
Many coworking operators pride themselves on massive, rampant expansion, but some industry experts believe this growth could lead to failure and consolidation in 2019.