Real estate company Tishman Speyer has expanded its coworking brand, Studio, into two Manhattan locations in wake of experts claiming that flexible offices will be in high demand in the coming months.
The two locations include a four floor, 110,000 square foot office at its Rockefeller Center building, as well as a 32,000 square foot space on Park Avenue.
“We have seen companies use it as their HQ as they grow, to enter a new market, expand their footprint in a market but with flexibility, current tenants that are retrofitting their offices to meet the newly established social distancing guidelines and temporarily require additional space, and also those considering a transition to a larger office footprint, looking for a mix of traditional and flexible terms,” said Thais Galli, a managing director at Tishman Speyer and the head of Studio.
Tishman Speyer has 167 million square feet of space in its portfolio and has been able to cut out the middleman with its Studio concept. It also has locations in Boston, Los Angeles, Frankfurt, London and more.
Although flexible workspace companies have been suffering throughout the pandemic, experts believe that many companies will turn to flexible, short-term leases in a post-pandemic world.
