Trendy, functional ‘flexible office spaces’ are taking off

Flexible office space, once a niche offering, is experiencing a meteoric rise. In the last decade, so-called “flex space” increased more than 600 percent across the United States. Just in the last year, the market grew 23 percent in Manhattan alone, according to CBRE. While most people associate coworking with a flexible office, that’s just one type of company that takes advantage of its perks. The term “flexible” applies to both the lease agreement and the design of the space. Unlike traditional commercial leases, which lock tenants in for five to 10 years, flex leases tend to be shorter and open to change. Flex lease spaces are also made to accommodate different activities and work types, and can be built out and adapted as a company expands.