Flexible Workspaces Continue to Grow

Industry experts project 30% of the national office inventory could become flexible space by 2030.

Michelle Bodick

NEW YORK CITY—There are more than 300 serviced office locations in Manhattan alone, and globally on a daily basis, three new flexible space offices open every day, according to Michelle Bodick, managing director, sales and marketing (Americas) of the Instant Group, an international workspace consultancy.

In a GlobeSt.com interview, Bodick cited a JLL report that notes although flexible space currently accounts for less than 5% of the current national office inventory, this figure could rise to 30% in 2030 due to tenants’ demands. The report also states in 2017 flexible office space grew three-fold to 3.1% in terms of the annual US office leasing activity, compared to two years ago when it was at 1.3%.

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Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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