Once thought of as co-working offices, now more often referred to as flexible space, for H1 2019 this sector has reached 8.5% of leasing activity nationwide, according to CBRE's latest research.
As millennials flock to live and play in Brooklyn and Long Island City, Queens, work space is also driving leasing activity, according to CBRE's latest office market reports.
Risk aversion is driving demand for this asset category, whose hallmark is the long-term nature of the leases and the credit underpinning the tenants, CBRE's Will Pike said.