Flexible Offices Are Taking Over Dwindling Retail Spaces
Retail Launchpads target retail startup businesses by offering incubation and a demo space within malls and retail locations. Cowork at the Mall at Chicago’s Tower Place does just that and features a coworking, event and merchandising space.
A Telework Hub represents about 78% of flexible offices and are found within a variety of retail properties.
Business Booster retail coworking spaces are targeted towards solopreneurs and offer services such as consulting, mentoring opportunities and venture capital.
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Creative Coalitions target millennials and are typically located in middle and top-tier centers. Coworking firm Spaceus is a prime example of a Creative Coalition as it is located in vacant retail storefronts and gives surrounding businesses a boost for neighboring stores.
JLL’s Retail Research Point of View 2018 also found that flexible office space within retail locations will likely reach 3.4 million square feet by 2023.
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