{"id":17560,"date":"2020-07-17T11:49:52","date_gmt":"2020-07-17T11:49:52","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=17560"},"modified":"2020-07-17T11:49:52","modified_gmt":"2020-07-17T11:49:52","slug":"commercial-giant-still-betting-on-coworking-growth","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/commercial-giant-still-betting-on-coworking-growth\/","title":{"rendered":"Commercial Giant Still Betting on Coworking Growth"},"content":{"rendered":"

Commercial Giant Still Betting on Coworking Growth<\/h3>\n
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While the flexible office space market known as coworking had already started to slow prior to the pandemic, concerns over the spread of germs and related issues leave some housing analysts concerned whether coworking spaces can survive.<\/p>\n

But commercial giant JLL is still bullish on the sector. In a new report, The Impact of COVID-19 on Flexible Space<\/a>, JLL notes that coworking space may be the alternative that companies seek in the post-COVID-19 world to shrink their office footprints for a more flexible option.<\/p>\n

\u201cDespite the current distress within the coworking sector, we\u2019re reiterating our position that office space will be fundamentally different in the future, as companies shift away from the long-term leased and owned space to more agile solutions,\u201d Scott Homa, JLL\u2019s senior director of office research, told Commercial Property Executive. \u201cCOVID-19 will accelerate a movement toward asset-light workplaces, where work-from-home and remote work blends seamlessly with the corporate office. Even with some coworking operators shrinking their footprints, we still believe 30 percent of office space will be consumed flexibly by 2030.\u201d<\/p>\n

The coworking market can include on-demand workspaces, memberships for some locations, short-term flexible spaces, and more traditional spaces with flexible arrangements.<\/p>\n

JLL believes that flex-space operators that offer a hybrid model including long-term leases, private office space, and coworking options will be the most likely to weather any downturn. Also, flex-space operators will need to be prepared to adjust their workspaces. Tenants may be drawn to flex spaces as options to serve as smaller satellite offices.<\/p>\n

Still, the sector likely will face headwinds. \u201cOwners will have a growing challenge on their hands in the months ahead, as venture-funded coworking companies continue to default on rent payments in some locations,\u201d Homa told Commercial Property Executive. \u201cThis will force important decisions among landlords about how to respond and spur continued evolution of the flexible space sector, most notably in the financial structure of deals\u2014fewer long-term leases and more revenue-share\/management agreements.\u201d<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Source:<\/div>\n
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\u201cCoworking Outlook Positive, JLL Finds<\/a>,\u201d Commercial Property Executive (July 14, 2020) and \u201cWhat the Future Holds for Flexible Space in a Fast-Paced World Affected by the Pandemic<\/a>,\u201d JLL (2020)<\/div>\n
\u00a9National Association of REALTORS\u00ae
\nReprinted with permission<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Commercial Giant Still Betting on Coworking Growth While the flexible office space market known as coworking had already started to slow prior to the pandemic, concerns over the spread of germs and related issues leave some housing analysts concerned whether coworking spaces can survive. But commercial giant JLL is still bullish on the sector. In … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-17560","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nCommercial Giant Still Betting on Coworking Growth - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/commercial-giant-still-betting-on-coworking-growth\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/commercial-giant-still-betting-on-coworking-growth\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/commercial-giant-still-betting-on-coworking-growth\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Commercial Giant Still Betting on Coworking Growth\",\"datePublished\":\"2020-07-17T11:49:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/commercial-giant-still-betting-on-coworking-growth\\\/\"},\"wordCount\":372,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/commercial-giant-still-betting-on-coworking-growth\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/commercial-giant-still-betting-on-coworking-growth\\\/\",\"name\":\"Commercial Giant Still Betting on Coworking Growth - 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