Corporates are set to become the driving force within the flexible workspace industry as the way they view their office portfolios continues to change, according to research by Instant Offices.
The flexible workspace sector has ridden the crest of a wave for the past five years with global demand increasing by 50 percent and more market supply of flex space than ever before. Instant now estimates the global market to incorporate 32,000-plus centers, which represents 521 million square feet. This is an increase of 15 percent year on year since 2013.
By the end of 2019, 40 percent of demand is expected to come from large and corporate companies, with the average tenant taking seven or more desks in flexible space.
Corporate organizations are looking for larger and more agile workspaces, which is symptomatic of a global move toward more flexible lease terms. The “Space as a Service” model was responsible for some of the biggest flex deals of 2018 in New York a
