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Overview
Flexible Office Spaces by City
Flexible offices, such as co-working spaces, offer startups an affordable opportunity to gain a foothold and build the physical density of tech in a community. Prior to the COVID-19 pandemic, flexible office space grew at a 22% average annual rate. 1 While both the global pandemic and decline of WeWork has caused disruption in the flexible work sector, experts believe the model will prove a long-term disruptor in the office market.
2030 Grand Rapids Flexible Office Inventory = 79,488 sq feet. Grand Rapids Flexible share of existing inventory (%) = 0.7%
Today
5%
30%
Seattle 3.0% 3,015,271
“Flexible”
“Flexible”
Portland 1.5%
Grand Rapids 0.7% 79,488
Chicago 2.7% 6,742,123
Spec Suites 2.6% 2.4%
Spec Suites 25%
San Francisco 4.7% 3,732,289
Denver 2.5% 2,852,121
5%
Phoenix 1.7% 1,560,954
Coworking
Coworking
Plus-Circle
Flexible Office Spaces by City
Spec Suites: Other flexible formats including communal workspaces and spec suites available on a term of less than 3 years. Austin 3.0% 1,698,721
Coworking: Independent, third-party flexible office providers from traditional executive office suites to coworking and incubators.
Source: JLL. Flexible Space Sector Trends. May 2022.
1 JLL. Flexible Space Sector Trends. May 2022.
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