Landlords are increasingly looking to flex space operators to fill their vacant office space, according to a report by JLL.
While flex space operators have struggled through the pandemic, they could be in for quite a rebound once things return to normal. The combination of companies looking to downsize and save costs and workers wanting more freedom could buoy the space into the future.
While landlords want more office space, operators aren't willing to take on new leases, according to Ben Munn, managing director of flex space at JLL. The solution could be management agreements that allow flex space operators to share revenues with landlords. Thirty percent of office space could be flexible by 2030, according to JLL.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
