Approaching Flex Space As A Property Manager

It’s clear that flexible space is playing an increasing role in the evolution of real estate and won’t be going away anytime soon. Our research predicts that while flexible space currently accounts for less than 5% of U.S. office stock, by 2030, 30% of office space will include some type of flexible space. Coworking, the fastest-growing sector of the broader flexible space movement, is on pace to become the top source of office leasing in the U.S. In the first half of 2019, coworking accounted for more than 10.1 million square feet of leased space, according to JLL research. That’s more space than was leased by finance and insurance companies, which historically have been significant consumers of space, just behind technology companies. While the growth in coworking will affect players in all parts of the real estate process, there are opportunities and implications for property managers that are significant and need to be considered proactively. Property managers will need to understand if and how flexible space makes sense for their asset, whether that’s leasing space to a coworking operator, creating their own coworking space or managing tenant amenity space within their asset. Click here to read more at