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Shared workspaces are consuming increasingly more office space

Floridians who build, sell and invest in corporate real estate likely couldn't foresee even at the beginning of the 21st century just how different the workplace landscape would become. One significant factor has been the rise of the sharing (or "gig") economy.

Increasingly, people are freelancing their skills rather than working as salaried employees. Many of them, however, still need a place to go where they can focus on their work. Staying at home, with constant interruptions by kids and animals, may not be an option. Sitting in a Starbucks with your laptop often isn't conducive to productivity either.

That's why "co-working" has become popular. This has meant a significant growth in shared workspaces, i.e., "flex-spaces." In fact, more than a fourth of all new leases during the past two years were signed by shared workspace providers. It's estimated that these shared workspaces will consume approximately 30 percent of all office space by 2030.

Companies like WeWork transform commercial buildings into comfortable, uniquely-decorated work environments where people can stretch out on sofas or lounge chairs if they choose or work at a more traditional desk. These spaces offer amenities from coffee to conference rooms to front-desk service. They even offer social events so that the people working there can get to know each other.

Other companies that offer flexible office space are growing and expanding operations throughout the country.

It's essential for anyone involved in commercial real estate here in Florida to keep up with the ever-changing trends that impact how people use commercial spaces. That way, they can be ready to act when an opportunity presents itself. Having an experienced commercial real estate attorney who can help smooth any bumps in the road and work to keep you in compliance with all local regulations and zoning ordinances can be key to your success.

Source: Reuters, "Cracking the co-working code in commercial real estate," Herbert Lash, accessed May 24, 2018

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