Interview with Real Estate Leader Ivanhoé Cambridge

This flexible office interview comes from a conversation with the team at Ivanhoé Cambridge. Ivanhoé is a leader in the commercial real estate industry. If you’re a CRE professional and want to inquire about an interview, please email us.

Chicago is the 4th most searched market for flexible office space in the US. It’s affordable too – at $390 per person per month. The national average for flexible space is $512 per person per month, however. Chicago’s focus on technology has resulted in a 42% employment growth in the sector. We had a chance to speak with the team at Ivanhoe Cambridge. We learned how building and portfolio owners are adjusting their strategies according to flexible office demands. Market demand has led the LiquidSpace team to explore the trends. So, we published the Chicago Flexible Office Report, detailing those trends. The report features insights into the market, economy, and business in Chicago. Plus it has insights from our flexible office data and from coworking, building, and broker partners.

Flexible Office Trends and Ivanhoé Cambridge

Ivanhoé Cambridge and Callahan Capital Properties are LiquidSpace network venue partners embracing the flexible office trends. Here are the insights from our flexible office interview with the team. If you are interested in learning about solutions for building owners, get in touch.

“Ivanhoé Cambridge prioritizes understanding current and future business needs. Today’s tenants are looking for flexible spaces that are conducive to collaboration, innovation and well-being, all whilst having a responsible sustainability footprint. Satellite workstations and short-term leases can help provide this flexibility, which is why Ivanhoé Cambridge has partnered with LiquidSpace to offer this innovative solution, and to help its tenants attract and retain top-tier talent.”

Jonathan Pearce, Senior Vice President, Office Leasing North America, Ivanhoé Cambridge

What do you think is driving market growth in Chicago?

All around the world people are choosing to live in big cities in proximity to their place of work. Real Estate companies like Ivanhoé Cambridge and Callahan Capital Properties are targeting these cities to invest and build projects that will make their mark and provide truly inspiring workspaces to attract a new generation of talent.

In Chicago, this trend is present with a continued flow of suburban in-migration into its central business district (CBD) with a downtown concentration of a young, highly educated workforce. In combination with an expanding technology sector, tenant activity should continue to be driven by organic growth of the local economy.

How has the adoption of flexible office changed?

New trends in office management are gaining traction in the industry. Among them satellite workstations, “hoteling” and co-working. Chicago has been home to a number of flexible office space providers and incubators for quite a few years now.

According to the LiquidSpace Flexible Office data for the Chicago market. The number of operators with instantly bookable flexible office space has nearly doubled.

Each of these space types enhance knowledge sharing, creativity and innovation between employees. As the freelance economy continues to grow, and as office space users increasingly seek flexibility and collaborative spaces, there will be a need for this type of work space. This trend will continue to solidify a growing sense of community within organizations.

How are companies like LiquidSpace enabling building portfolios to offer new products to your customers?

To keep pace with the ever-changing needs of tenants, buildings need to be designed for flexibility. This frame of mind will create every space required by the new and informed workforce. This is why Ivanhoé Cambridge and Callahan Capital Properties have begun collaborating with partners like LiquidSpace. It’s a perfect marriage of experience and innovation.

For example, 180 North LaSalle Street provided an ideal location to partner with LiquidSpace. LiquidSpace has helped develop the flexible office spaces at 180 North LaSalle. The property has a central location, a variety of transportation options, plus dining and cultural services. The building also has in-building amenities.

We’re working to expand the presence of Ivanhoé Cambridge and Callahan Capital Properties spaces on LiquidSpace. And we’re doing so with inventory from throughout their North American portfolios. Therefore, Ivanhoé Cambridge is in a great position to share these spaces in top and emerging cities.

Thanks to Ivanhoé Cambridge and Callahan Capital Properties! We thank you for bringing a real estate leader’s perspective to the flexible office conversation. As a commercial real estate network, LiquidSpace benefits from the diverse thought leadership in our network. We aggregate operators, from coworking, to private business, and building owners. Our team elaborates on these trends with deep data and qualitative insights in our Flexible Office Reports. To get an immediate dose and to receive future installments, head to the LiquidSpace Flexible Office Hub.