As we look back on the last decade, business models and
lifestyles have dramatically shifted, largely due to the introduction and
success of brands like Uber and Airbnb, pushing consumers to adopt a “sharing”
mentality in many aspects of their life, including professional. While once a
small part of commercial real estate, flexible office space is now a prominent
component, due to this shift.
Coworking providers saw a large spike in growth over the last five years and will continue to see steady growth and success as we head into 2020 and beyond. According to CBRE, flexible office space could account for 13% (~600M SF) of total U.S. office supply by 2030 and in 2020 alone, CBRE projects 13% growth of flex space, totally about 87M SF by the end of 2020.
So, with this anticipated growth and continued demand ahead
of us, what changes and new trends can we expect to see throughout the
coworking industry? We broke down our top three predictions.
Coworking space is no longer just for the freelancer or small startup, larger companies are beginning to see the advantages of leasing flexible space as a way to create an industry-specific work environment. Larger companies will begin to favor this option as it allows their employees to work and network amongst their peers.
Many existing coworking concepts rely on community managers or property management teams to be physically present in the space to assist tenants with anything they may need. While tenants continue to become more and more tech-savvy, coworking spaces will need to evolve accordingly and become more equipped with various tools and software that can automate and streamline certain operations, such as space bookings and WiFi management.
Health and wellness continue to be a top priority for working professionals. Throughout 2020, coworking spaces will begin to focus more on integrating design elements and services that help their tenants lead a healthy and balanced lifestyle. This may be through the implementation of standing desks (the most requested feature coworking members ask for!), accessibility to fitness centers/classes and the addition of wellness and meditation rooms.