Despite demand for flexible offices expected to fall between 2021 and 2022, the last few months have offered a glimmer of hope for the industry.
According to a new Chicago-focused study from The Instant Group, interest and inquiries into coworking are forecasted to surpass expectations for this year.
In Chicago, demand in the second half of 2022 has outpaced the same time last year by 5%.
However, inquiries into smaller workspaces fell 24%, while requests for three to nine desks and 25 or more desks grew 25% and 33%, respectively.
“While the 0-2 workstation requirements have been down in Chicago’s CBD, the exciting thing here is the increasing inquiries for 3+ workstations,” said Brian Childers, Director of Digital Solutions at The Instant Group.
“We are seeing the 0-2 workstation clients are finding they can work from home just as effectively as being in an office, while the 3+ workstation clients are needing the cross-team collaboration time.”
Flexible office operators have been enjoying renewed interest into their workspaces, and it’s the pivot in audience that has helped accelerate business in recent months.
Rather than accommodating small teams and entrepreneurs who may not be as financially secure, more and more of coworking firms are supporting corporations who are seeking to cut down on their own office footprint, while still giving their employees a space to be productive when needed.
“Companies wanting to give employees more flexible options that don’t require them to commit to a full office return is one of the factors driving demand,” Emily Watkins, Chief Client Officer at The Instant Group.