CBRE is predicting that flexible workspace could account for as much as 22% of office space in the US by 2030.
Currently the sector occupies 71m sq ft or 1.8% across 40 markets in the US, but could grow to account for between 6.5% and 22% in 11 years’ time, depending on the US’s economic health.
“We’re seeing a fundamental change in the expectations that organisations and their employees have for the workplace,” said Julie Whelan, head of occupier research, Americas, at CBRE. “This change is spurring an increasing number of companies to engage with flexible office solutions that provide the physical environment and business terms they prefer. This shift is ongoing.
“There is simply not enough available office space to support this supply without even more drastic changes in tenant behaviour.”
Research from CBRE also showed that, while Manhattan and Los Angeles had the most flex space by square foot, currently the fastest-growing markets for this sector are Salt Lake City and Seattle.
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