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Flex-Office Sector Evolves to Rely on Large Users
The North American flex-office sector has evolved through the pandemic, trimming its square footage by 9% and gradually shifting to rely more on large companies as users and helping employers to accommodate changing patterns of office use, according to a new report from CBRE.
“Flex space has become a skeleton key that companies can use to address their changing office needs,” said Julie Whelan, CBRE’s global head of occupier research. “They can use it to adjust their office portfolio as they figure out how hybrid work will affect their employees’ office-use patterns. They can use flex space as a short-term base when they initially expand into new markets to tap new and more affordable labor pools.
“Some will add flex space in suburban locations to offer employees offices for occasional use closer to their homes,” Whelan continued. “In short, flex space allows companies to be more nimble.”
- ◦Lease
