Office tenants are increasingly looking to flex space as a crucial piece of their real estate strategy in the wake of COVID-19, with nearly a quarter of respondents recently surveyed by CBRE reporting having more than 10% of their portfolio in the asset class. 

"The need for agility has never been greater as workforce behaviors have been transformed during the pandemic and likely will never return to pre-pandemic norms," a new report from CBRE notes. "As occupiers plan real estate portfolios amid such uncertainty, flexible office space is becoming a useful solution for some requirements."

CBRE notes that enterprise occupiers are also accounting for a bigger share of revenue than some of the largest flex providers.  WeWork reported that nearly half its membership consists of enterprise customers, while IWG reported "unprecedented" demand and is working with more than 2 million new customers, including more than 80% of the Fortune 500.