The coronavirus pandemic continues to wreak havoc on the country's plans to reopen, but glimmers of hope can be seen in the flexible-space market.
According to a new report from JLL, some of the larger flex-space operators are making moves to expand. Listed flex-space group IWG took over 30,000 square feet of office space in Hong Kong just this past June. That space had been previously leased by another flex operator. Both Industrious and Serendipity Labs are also potentially ready to expand, according to Ben Munn, managing director of flexible space at JLL.
Corporate demands are increasing for holistic workspace solutions, Munn says. Add the pressure legacy business models are feeling to consolidate, and interest isn't likely to evaporate any time soon.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Richard Binder
Richard Binder, based in New York, is part of the social media team at ALM. He is also a 2014 recipient of the ASPBE Award for Excellence in the Humorous/Fun Department.
