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Flex Office Sector Proves Resilient in Downturn: CBRE
The once-surging flex office sector, widely predicted to be a casualty of the downturn, has held its own amid pandemic-related lockdowns and the resulting recession, CBRE says in its annual report on the sector. Although annual growth slowed to a fraction of the 41% seen a year ago, outright closures were fewer than expected.
CBRE says the outlook for flex office now is optimistic: A recent CBRE survey of 77 major companies across the globe found that 86% anticipate using flex space as a key part of their real estate strategies.
“This downturn has sparked flex office to become a strong alternative to traditional leases for many office-using companies,” said Julie Whelan, CBRE global head of occupier research. “That is in large part because flex space can provide companies the agility to accommodate a workforce that values more choice over where and how they work.”
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