2022 Flex Office Changing Workplace
Contraction of North American Markets Inventory Down 7% Across the Largest U.S. & Canadian Markets
Changes in Inventory • In the Americas, flex operators are giving back space or forcing renegotiations with landlords through bankruptcy. For example, flexible office inventory in San Francisco fell year over year (YoY) from 4.0 msf to 2.5 msf. • Impact on flexible office varies by operator and depends upon location, competition, tenant mix and average contract duration. • Those that have generally fared better include operators that own some or all of their buildings and/or operators who work on a management agreement basis. • There is consensus that the longer-term future is brighter, however.
-12% -12% -11% -11%
Source: Cushman & Wakefield Research
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