Walk into any of WeWork’s offices to find artisan coffee, shuffleboard and foosball tables, free food, a wine cellar, contemporary artwork and open communal space that resembles the studio floor of a cutting-edge furniture shop. The tenants are mostly Internet start-ups that pay for office space by the month and thrive from being surrounded by like-minded companies.
This type of office space is a relatively small segment of the U.S. office market. It is emblematic, however, of how the U.S. office market is in the midst of a secular shift toward hybrid office space, a new working environment that appears destined to outperform traditional office space.
Hybrid office space incorporates elements of both traditional and the “creative” office space typified by WeWork. This shift is being driven by office occupiers from all types of industries that are demanding the right mix of collaborative versus private space, natural light and amenities in their offices. Tradition