Last year, the flexible workspace industry saw activity come to a halt. The close-knit community that these spaces once prided themselves in became one of the most high-risk environments during the pandemic.
However, as we enter a post-pandemic society and workers are not eager to return to the office, these flexible spaces could make a huge comeback.
“This is more meaningful than a shifting of deckchairs,” said Ben Munn, managing director of flex space at JLL. “Companies and investors are taking a different view on flex space entirely and are willing to invest because they see this as a bigger proportion of the overall office market than it is currently.”
However, the industry will have to undergo a major transformation in order to accommodate the new demands of workers. For instance, Munn says that desk space will be aggregated and rely on technology in a way that allows users to see when flexible space is available near them.
This also means investors and office owners will only look to make deals with trustworthy and well-financed operators.
At the moment, major operators are making big moves to come back from the major losses they experienced in 2020 through lease renegotiations and even acquisitions of smaller firms.
