Once considered a niche offering, flexible office space has become a prominent component of building owners’ and corporate occupiers’ real estate strategies. As such, it represents a structural shift in office leasing that will survive—and perhaps thrive—in an economic downturn.
This shift has come at a time when business models predicated on sharing, such as Airbnb and Uber, have disrupted traditional industries. While the real estate industry is rarely a first mover, especially with trends that might disrupt how it is valued, the explosive growth of flexible office space this late in the economic cycle is not surprising.
This report explains how flexible offerings have caused a structural shift in the U.S. real estate industry. It also explores potential growth opportunities and the sector’s likely prospects in a recession scenario.