According to the report, there is no indication that flex office space saturation is expected to happen anytime soon and, as a matter of fact, there a number of top markets poised for rapid flex growth. These markets include L.A. (Westside), Denver, Seattle, Washington, D.C., Northern Virginia, Boston, Austin, Silicon Valley, San Francisco, and New York.

“These cities all have a few traits in common,” says Homa. “They are mostly gateway cities located in high-growth areas, their demographics include individuals with significant income and education with some tech backgrounds and these areas typically consist of a younger workforce instead of a more mature population.”

Of courses, urban areas, with limited space, have fewer home office options and so co-working spaces are important and in-demand.

Homa expects to see continued disruption of the traditional lease model as investors, occupiers and operators come to terms with a new—more flexible—way of conducting business.