Awakening an Era of Flexibility
Despite the challenges posed by pandemic-related restrictions, the North American flexible office market showed signs of recovery in 2021. Flex providers reported a rebound in sales and occupancy, particularly from small and medium-size businesses (SMBs). Meanwhile, a growing demand pipeline from enterprise tenants underpins an optimistic outlook for 2022. Although the omicron variant could hamper the recovery, flexible office space solutions clearly will be a key part of companies’ real estate strategies as they adopt hybrid work arrangements and as new space use patterns emerge.