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Flexible Workspaces Continue to Grow

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

Michelle Bodick Michelle Bodick, managing director, sales and marketing (Americas), the Instant Group

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

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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