News

Flexible Workspace And Co-Working Are Established, Expanding And Evolving

Zappile: Flexibility and cost savings: As companies strive toward space efficiency, flexible workspace offers an immediate savings as opposed to the time and cost of reconfiguring existing office space or moving to a more efficient premises. Flexible workspace provides the ability to initially take a small amount of space with a shorter lease term. Enterprises are increasingly embracing the flex and core occupational model, where occupiers seek to secure leases on their longer-term space but leverage the flexible workspace sector to accommodate meeting rooms, event spaces, informal meetings and some project teams over the course of their leases. These changes should benefit the flexible workspace sector, compelling companies to take less core space than with traditional long-term leases. First, because the FASB13 changes should benefit the flexible workspace sector, companies will be compelled to take less core space with traditional long-term leases. Finally, as previously noted, enterprises are increasingly embracing the flex and core occupational model, where occupiers seek to secure leases on their longer term space but leverage the flexible workspace sector to accommodate meeting rooms, event spaces, informal meetings and project teams. Landlords are no longer looking at just offering flexible space, but to leverage the sector for operators that can deliver hospitality-driven amenity spaces for meeting rooms, project space, event spaces, lounge and food and beverage.

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