Flexible Office for Corporate Real Estate: US Flexible Office Report Q2 2017
This is a blog for the Q2 2017 Flexible Office Report, about corporate real estate in the flexible office market. Read the full Q2 2017 US Flexible Office Report. Or access the archives of all our previous flexible office reports.
You may have already read our blog for the Flexible Office Report for Q4 2016, covering trends in the flexible workforce. Now we’re telling the corporate real estate story as it relates to flexible office in the Q2 2017 US Flexible Office Report. Below are a few key points from the report.
1. Corporate Real Estate Demands Flexible Office.
Flexible office is more than just the coworking boom. Flexible office is expanding into many facets of real estate and growing rapidly. Nearly half of all corporate real estate departments are already implementing flexible office. This fact is evidence that flexible office is here to stay. In fact, JLL predicted that by 2030 almost 1/3 of all office space will be flexible.
2. The Landlord’s Role is Changing.
Traditionally, the relationship between landlords and office tenants has been merely transactional. Nowadays, landlords are choosing to take a more active role in the day-to-day. By offering more services and options, landlords can better attract more high-value tenants to their properties.
3. Companies Are Tapping Into New Cities.
In order to find the best talent, large companies are expanding into new cities. So, we see companies particularly seeking cities with large college student populations. That way they can tap into talent pools immediately as they become available. Many of the largest US cities also have significant student populations. However, some unexpected cities retain their recent graduates, who find jobs nearby. According to recent analysis, Detroit, Houston, Seattle, Atlanta, Dallas, Portland, and Chicago retained 70%+ of their graduates. For recent grads, working outside of major markets like San Francisco and New York means a more affordable cost of living. Because large companies move to these cities as well, students can thus earn the same salary while spending less to live, eat, and get around. With flexible work pervading all across the country, the geography of corporate real estate is changing quickly.
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