In 2021 the flexible workspace sector emerged from recent challenges to be a key component of CRE strategy and flexible workspace operators have drawn major investment activity.
While flexible workspace operators have largely re-geared their agreements with asset owners over the last 18 months, occupier demand for flexible workspace reached unprecedented levels and operators, in most major markets, are now beginning to look at strategic expansion.
Asset owners are thoughtfully assessing their product mix and delivery models, which is leading to a higher volume of non-traditional agreements with operators, easing friction between flex and core products.
Five trends in 2022
- Beyond Flex
- Flexible Workspace Blurs with traditional office
- More products
- Flight to quality
Flexible workspace and traditional office will blend to become workplace solutions, and industry professionals viewing the two in binary terms will dissipate.
Turnkey delivery of space, bundled together with additional services by the operator or asset owner.
Flex & Core
Core space taken with either an asset owner or operator on a long term lease with flexible workspace products, on shorter terms, as part of the same agreement and typically within the same building.
An occupier partners with a flexible workspace operator to repurpose part of their traditional office as a flexible workspace location, usually where the occupier has surplus space on a long term lease, or is an owner occupier.
We have launched Colliers SmartFlex, which is a market-leading technology solution for our local experts to strategize on operator selection, manage transaction workflow and automate reporting. As the worlds of flexible workspace and traditional workplaces blur, we believe our experts on the ground should have the tools to cover all office solutions.
Occupier Services expertise and insights
Through discussions with industry leaders, this series will include short episodes that look at some of the emerging trends and current insights around the Flexible Workspace industry as it evolves.
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Head of Occupier Strategy | Asia
I currently lead Colliers International’s Asia Occupier Consulting platform and Corporate Solution’s India account management hub.
I joined Colliers International India in 2008, as part of Colliers’ India ‘National Executive Team’ and was responsible for the consulting & valuation, research and business intelligence verticals. I have a multifaceted real estate experience of over 17 years that includes successfully concluding land, office and capital market transactions; hospitality operator search; undertaking consulting assignment for clients on their property decisions and authoring research papers. He has extensively worked on projects across South Asia.
Prior to joining Colliers, I led the Consultancy and Valuation service line for north India at Knight Frank between 2005-08. I was also a research assistant at the School of Urban Planning & Architecture at MIT, USA; and started my career as an architect with Christopher Charles Benninger Architects Pvt. Ltd. in Pune.
I holds dual post-graduate degrees from the Massachusetts Institute of Technology (MIT), Cambridge, USA. I am a regular guest instructor at the Indian School of Business (ISB) Hyderabad since 2012. I am a member of the RICS South Asia Valuation Professional Group Board, and was part of the 3-member Colliers team that drafted “Guidance Notes for Localization of the RICS Red Book. A regular speaker at media and industry events, my opinions and thought pieces are regularly featured in print and mass media publications.
Vice President, Flexible Workspace Consulting and Transaction Management
Will brings more than eight years of commercial real estate experience from the landlord, brokerage, and flexible workplace sectors. He was most recently at Transwestern, serving as a VP on their tenant representation team in New York City. Prior to Transwestern he worked at Breather and WeWork, supporting enterprise clients with both transactional and consulting services throughout the Americas. Will started his career at SL Green, working on a team that managed over 10 million square feet of space in New York City.