Flexible Office for the Evolving Workforce
Quality Matters More Than Ever U.S. Class A share of overall leasing, four-quarter rolling total
Accelerated Flight to Quality
Class A Share of CBD
Linear (Class A Share of CBD)
• Another trend that benefits flexible office providers is an increased flight to quality during the pandemic. Occupier preference for high quality, highly amenitized space has driven leasing activity for the past three years. • While the overall office market has experienced negative absorption, the newest and best office buildings have actually experienced over 100 msf of positive absorption since 2020. • There is, unfortunately, not enough of this space creating an opportunity for certain office owners. Flexible office and rentable conference spaces are increasingly part of a suite of amenities available in the best office spaces.
74%
73%
72%
71%
Total Leasing (SF)
70%
69%
2018 Q1
2018 Q2
2018 Q3
2018 Q4
2019 Q1
2019 Q2
2019 Q3
2019 Q4
2020 Q1
2020 Q2
2020 Q3
2020 Q4
2021 Q1
2021 Q2
2021 Q3
2021 Q4
2022 Q1
2022 Q2
2022 Q3
2022 Q4
Source: Cushman & Wakefield Research
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