FLEXIBLE OFFICE SPACE
As a commercial property owner , you want to be assured of security , stability , and sustainable growth . But in the age of hybrid working , commercial landlords may need to rethink their definitions of how this is achieved . Adapting to the demands of corporate clients may require a shift away from long-term contracts on sprawling office spaces , and towards flexible leasing of bespoke workspaces .
The last couple of years have necessitated a major paradigm shift within the commercial real estate industry . The pandemic has catalysed a growing trend for flexible working , with an increasing number of companies responding to employee demand by embracing a hybrid model . This enables employees to split their time between the office , home and a local coworking space . These spaces are often adaptable and can be leased on a flexible basis to meet the client ’ s needs , whether they need a meeting room , a co-working space , hotdesking suites , break-out areas , or a combination of the same . This emerging trend in client demand has caused many commercial landlords and franchise operators to rethink their strategies .
As Founder and Principal of The Ocean Company , a San Diegobased firm that specialises in tenant representation , Jamal Brown has been at the frontline of this revolution .
“ WORKERS VALUE THEIR FREEDOM ”
Brown firmly believes that flexible workspaces are a crucial element of this workspace revolution . Both commercial landlords and franchise operators are instrumental in helping their clients to navigate this new operational method , adapting their offerings to meet the client ’ s needs .
“ There are a lot of people who left the office at the beginning of the pandemic and don ’ t really want to return ,” he says . “ That ’ s especially
158 OCT 2022 SA Real Estate Investor Magazine