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New Generation Of Office Tenants Prefers A Flexible Office Environment

The office landscape has changed. Gone are the days of sitting for hours behind a line of desks and in compartmentalized cubicles in front of bulky computers. 

Workers want more natural light, interaction and collaboration with colleagues, to have the ability to work outside and have access to other amenities in or around the office building, panelists said at Bisnow’s Los Angeles Office: Workplace of the Future event Wednesday at the Convene coworking space at the Wells Fargo Center in downtown Los Angeles.

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Fed Up With Vacant Storefronts, Residents Force Cities To Punish Retail Landlords

Bisnow/Julie Littman

Coast to coast, bustling retail meccas used to embody a decidedly American pastime: shop till you drop. But empty storefronts across the U.S. have cropped up in places that go far beyond the “retail apocalypse” that has battered suburban malls — and some municipalities are fed up.  From retail corridors nestled in some of New York’s trendiest neighborhoods to wealthy bedroom communities just outside of Boston, vacancy signage is becoming more common than glitzy placards announcing a big sale.

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Before you go to bed tonight, another 15,000 sf of coworking space will have opened in the U.S. More than 5 msf of it came online in each of the past three years.

This incredible pace of growth continued in the first half of 2018 with another 3 msf added. Cushman & Wakefield’s Coworking and Flexible Office Space report explores the benefits, risks, and future opportunities in the world of flexible office space.


• Investors are comfortable with a coworking space ratio of 15-30% of a building.

• This ratio is increasingly perceived as a strategic necessity by landlords and investors.

• Coworking is well-positioned to weather an economic downturn.

• Flexible office space will triple in size—representing 5-10% of office inventory in many markets.

• Coworking demand is strong, but only 20-30% is additive.

 

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