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The flex office market is more than just hype and headlines. According to a new report from CBRE, flex office space is here to stay. While the office niche only takes up 2% of the total office supply in the US, it has experienced rapid growth driven buy significant office demand. By 2022, market data forecasts that 1 million workers will work out of a flexible office space, illustrating the strong demand.

“We have seen a structural shift to flexibility that is here to stay,” Julie Whelan, head of occupier research for the Americas at CBRE, tells GlobeSt.com. “This segment of space would not have skyrocketed to where it is today if occupier demand wasn’t fueling it. Occupier demand driving growth to date remains strong as we head into 2020, as headcount uncertainty and decentralized workforces only become more normal circumstances that organizations need to grapple with. The flexible space model may shift from where we are today, but the fundamentals of speed, flexibility and low capital outlay will remain staples of occupancy decisions.”

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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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