Flexible Offices Are Here To Stay
The past decade saw the flexible office sector skyrocket and go from niche offering, to a mainstream option that has been embraced by businesses large and small.
“The way companies are built today has changed, so it’s time for the leases that those companies are signing to change too,” said Jonathan Wasserstrum, CEO of SquareFoot, a commercial real estate tech company that recently acquired flexible office marketplace PivotDesk. “Once flexibility is on the table, a lot of people start raising their hands, and that’s regardless of the type of company they are.”
According to JLL, organizations are adopting flexible workspace models to reduce costs, avoid long-lease terms, as well as boost collaboration and agility.
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Still, the flexible office sector still takes up a small percentage of the overall office market, so there is plenty of room for expansion.
While the sector is expected to continue growing, it is not necessarily a solution for all companies — some simply do not need it or cannot justify the cost.
Overall, it is clear that flexible offices and coworking spaces have become a long-lasting part of the workforce and are showing no signs of going anywhere.
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