The rapid growth of coworking hasn’t gone unnoticed by the commercial real estate world. In recent years, corporate office giants have introduced their own version of coworking into their portfolios in order to offer clients the flexibility they’re looking for.
Among them are CBRE’s brand, Hana (now part of Industrious), and Cushman & Wakefield’s investment in global flexible workspace brand, WeWork.
JLL is another CRE giant that’s investing in flexible space. Its coworking brand, ‘Flex by JLL’, has just launched a second location in Seattle at Westlake Tower – formerly occupied by none other than WeWork.
JLL’s coworking venture offers sought-after flexibility in a market that once thrived on long-term leases. Now, many corporate clients seek flexibility and shorter-term agreements to protect themselves against an increasingly volatile economic backdrop.
JLL’s flexible workspace offers agreements as short as a month, and even day passes.
The new space, Orchard Workspace, spans 35,000 square feet over two floors. It’s JLL’s second coworking location after it launched a space in Brooklyn, New York, last year.