Flexible Office for the Evolving Workforce

Pockets of Growth in North American Markets Inventory growth from Q2 2020 to Q2 2022

Growth Markets

190%

• Despite the overall trend of shedding flexible office space in North American markets, some markets have bucked the trend and continue to grow their flexible office inventory. • These markets added a total of 2.0 msf inventory to the flexible office market, including Houston’s growth from 2.8 msf in Q2 2020 to 3.2 msf in Q2 2022.

44%

16%

14%

11%

Inventory Growth (%)

10%

7%

2%

Phoenix* Tampa Raleigh Durham

Houston Nashville Austin Calgary

DC - Northern Virginia

*Off-chart: Phoenix inventory increased 190%

Source: Cushman & Wakefield Research, Deskmag