{"id":1004744476,"date":"2024-01-29T02:10:00","date_gmt":"2024-01-29T10:10:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004744476"},"modified":"2025-02-04T04:44:35","modified_gmt":"2025-02-04T12:44:35","slug":"coworking-trends-to-keep-an-eye-on-this-year","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/coworking-trends-to-keep-an-eye-on-this-year\/","title":{"rendered":"Coworking Trends to Keep an Eye On in 2024"},"content":{"rendered":"
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Workbox currently operates eight coworking spaces throughout Chicago; Columbus, Ohio; Minneapolis and Salt Lake City
. Image courtesy of Workbox<\/em><\/figcaption><\/figure><\/div>\n\n\n

The coworking sector continues to show resilience, swiftly adapting to tenants’ constantly changing needs and wants. With growth mainly fueled by the pandemic-induced rise in hybrid work, coworking providers are now taking workspaces to the next level, banking on the ever-increasing demand for flexible<\/a> and collaborative spaces. <\/p>\n\n\n\n

“The pandemic has changed work, and while some executives may be insisting on a return to office<\/a>, they know remote work isn\u2019t going away,” said THRIVE | Coworking<\/strong> Chief Revenue Officer Chris Smith. <\/p>\n\n\n\n

Over the past few years, operators have been actively remodeling the fundamental characteristics of workspaces as we know them in the traditional office sector. Coworking is no longer just a space where people work remotely. It is now part of the flexibility and agility movement that the modern worker expects. And office owners are finding ways to cope with this shift by adding flex space to their offerings. <\/p>\n\n\n\n

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READ ALSO<\/strong>: As Hybrid Work Expands, Coworking Is No Longer the Exception<\/a><\/p>\n\n\n\n

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“Traditionally, building owners have used incentives such as free rent, tenant-improvement allowance and expansion or contraction options to entice tenants when necessary,” said CBRE<\/strong> Global Head of Occupier Thought Leadership Julie Whelan. “Now flex space is a factor in that equation. Building owners can offer access to on-demand space during peak office attendance times, free hours of shared meeting space in the building, or bundling a long-term lease with a short-term suite requirement. Thus, flex office and meeting space offerings are part of the building amenitization,” she added. <\/p>\n\n\n\n

According to a CBRE report<\/a> on flex space demand and the company\u2019s Spring 2023 U.S. Office Occupier Sentiment Survey<\/a>, most investors are adding flexible spaces to their portfolios to reduce capital expenditures, offer collaboration space on demand and enter new markets. The biggest challenge here is creating a winning formula for all the parties involved: the landlord, the tenant and the flexible space provider.<\/p>\n\n\n\n