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MISPLACED SCHADENFREUDE? IMPLICATIONS OF CHANGING FLEXIBLE WORKSPACE FOR CRE

The flexible office sector—and coworking, in particular—has been the darling of the office market since the last recession. Its meteoric 45% compound annual growth rate in U.S. gateway markets from 2010-2018 has increasingly driven new leasing activity. In 2010, coworking leasing represented just 0.5% of all net new leasing in U.S. gateway cities; by 2018, the share was 9.5%.

It is tricky, however, to reconcile these statistics with recent media coverage on the sector; gloomy predictions have been on the rise. In light of this, it is worthwhile to re-examine some fundamental assumptions regarding the flexible space office sector.

Check out this Cushman & Wakefield Research report.

As Teleworking Increases, Companies Need to Adjust

According to an analysis that GlobalWorkplaceAnalytics.com recently released almost half of workers in America work remotely.

Do you work remote, how has it changed your office dynamic? What does it mean for the future of CRE? read the article below and call me to help with your office space needs. I can help you navigate the trends and get you the space you need!

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City Parks Piggyback on Infrastructure

Green spaces in major urban areas are becoming increasingly common. New York City’s converted railway greenery infrastructure project known as The Highline opened ten years ago this past June, and since then has spurred numerous transportation and city park projects. But implementation of these luscious landscapes has drawn some criticism. Not only are these parks extremely intricate, they potentially require several layers of approval, and can lag for months and deliver over budget. Despite these drawbacks, adding green spaces improves an urban setting and attracts those seeking relief without leaving the concrete jungle.

Photo Credit:Visit Jacksonville

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