Flexspace to Grow Amid Post-Pandemic Drop in Office Demand

Companies will likely continue to offer their employees greater choice in where they work as 2021, and flexspace will be a part of their offerings, according to a Colliers International report. This will give a boost to this office format, however much of the growth will occur outside the list of usual CBD suspects, as some markets are already feeling the supply pinch from a lack of flex workspaces outside of downtown locations. 

“As occupiers continue to seek a range of geographic locations to solve for a distributed workforce there is a substantial deficit of supply in suburban areas, secondary cities, commuter towns and emerging markets,” the Colliers report states. “2021 will be the year that non-CBD flexible workspace supply increases dramatically.”