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Office landlords are entering the co-working market, offering prospective tenants flexible space option, and they are quickly becoming a top competitor for co-working operators. According to research from CBRE, 40% of office lease transactions that included flexible workspace amenity are valued above the market average. Landlord-owned co-working models include CBRE’s Hana and Brookfield’s partnership with Convene.

“Landlords realize the way people work is undoubtedly changing, and changing rapidly,” Patrick Amos, SVP at CBRE, tells GlobeSt.com. “This transformation stems from various cultural shifts and is largely being driven by technology and the arising need for and use of flexibility. As the co-working landscape becomes ever more competitive, flexible space operators modify and enhance their offerings from simply space and services to a more comprehensive suite of workplace and lifestyle offerings. Landlords know that co-working is now an amenity that appeals to various tenants for various reasons and are trying to expand on that by offering services provided by an operator as well as amenities provided by both the landlord in collaboration with an operator to cater to all tenants at a property.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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