The flexible office sector is expected to continue expanding through 2025 following a year of growth driven by evolving work preferences and technological advances.
Coworking inventory grew 13% by square footage year-over-year, as of the third quarter of 2024, according to data published by CoworkingCafe. The total number of coworking spaces increased by 22% during the same period last year.
Both suburban and tertiary markets have experienced growth in coworking spaces. In suburban markets, hybrid employees are often choosing to work closer to home, in part to avoid lengthy commutes, according to Cushman & Wakefield's flexible office outlook. For example, New Jersey’s inventory of coworking space grew 36% year over year, which highlights strong demand from one of New York’s major suburban markets.
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© 2025 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.
