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Sign in Sign up for a FREE subscriptionWeWork, IWG hold 50 percent of the U.S. flexible-office inventory
The top-10 markets account for more than 70 percent of the nation’s flexible-office inventory (25 percent in Manhattan alone). With nearly 4 billion square feet of traditional office space in the 54 major metros tracked by CBRE, continued growth of flexible space is inevitable even under conservative estimates.
The top-five operators by square footage are WeWork, Regus, Spaces, Knotel and Industrious. The We Company (WeWork) and IWG (Regus and Spaces) hold 50 percent of the U.S. flexible-office inventory. Knotel and Industrious have another 10 percent.
Other CBRE Research findings include:
In 2018 alone, flexible space in the top-10 markets grew by 25 percent, with Manhattan growing the most on an absolute basis (+4 million square feet) and Seattle growing the most on a percentage basis (44 percent). Grow