Jacob Frydman on How Flexible Workspaces Affect the Office Market

Companies are embracing flex spaces partly to meet the needs of their workers and partly to ensure their own agility

New York, NY - May 15, 2019 /MarketersMedia/ —

Remote working is on the rise in today’s business environment, and is one of its major changes. This is possible thanks to the technology that allow people to move and work as they wish, at a level that couldn’t have been imagined some 10 years ago. The “gig economy,” a term coined to describe the explosion of independent contracting, has helped to popularize the concept of co-working spaces, igniting corporate interest in the hybrid solution known as flexible workspaces. The latest annual report from The Instant Group cites the United States as the world’s leading flex space market, with a supply estimated at 80 million square feet. Having delivered “sensational growth” in 2017, this segment is forecast to continue in the same vein, which inevitably poses the question of how the trend will impact the overall office market. Now that the shock of disruption has receded, both suppliers and tenants are starting to focus on the benefits while also acknowledging that the change in working styles requires of the environment to evolve, notes Jacob Frydman, a prominent real estate expert and consultant based in New York.

Companies are embracing flex spaces partly to meet the needs of their workers and partly to ensure their own agility in times of economic uncertainty or fluctuations in demand, Jacob Frydman explains. Frank Knight, a leading estate agency based in London (UK), has just released a report titled “(Y)our Space,” which explores factors driving occupational demand and draws on input from senior executives at 120 globally operating companies. The push for productivity has emerged as one of the five main themes in the workspace narrative, and real estate is considered a “strategic device” for businesses. However, the focus is no longer on cheap solutions but effective ones, and “the aim is now to increase productivity by strengthening the interaction between people and property via the creation of, and investment in, a positive, serviced and well-supported workplace experience.” This aligns strongly with another theme, which Frank Knight calls “space as a service.” As the report says, “The workplace is becoming a flexible business service that can actively support business growth, rather than a fixed and often (to the occupier) financially onerous physical product. This repositioning is alluring to the occupier and will become the demand default.”

The office evolution and its impact on the commercial real estate market were also addressed in an earlier report by the Urban Land Institute (ULI), which noted that the pursuit of greater productivity and the shift to smarter working were imposing new requirements on property developers. The focus on flexibility, innovation, and green design is leading to more companies seeking “curated, configured office spaces that boost productivity.” As a result, success for developers will be determined by their ability to combine design and efficiency and provide office spaces that cater to a workforce which no longer conforms to the 5-to-9 routine.

With more than 30 years of experience, Jacob Frydman is the Chairman and CEO of Frydco Capital Group and one of the leading experts in structuring, financing, and executing complex real estate transactions. He has been involved, either as an investor or adviser, in property deals valued at over $2 billion in total. The acclaimed professional shares his industry insights as a speaker and guest lecturer and is frequently invited as a commentator by major television channels such as CNBC, Bloomberg TV, and Fox News. Jacob Frydman served as a member of the Board of Directors of the Bardavon Opera House, home of the Hudson Valley Philarmonic, and supports numerous charitable organizations, among them the National Committee for Furtherance of Jewish Education (NCFJE), The Brem Foundation, and The Chabad of Duchess County.

Jacob Frydman - Blog - JacobFrydmanNews.com: http://JacobFrydmanNews.com

Jacob Frydman (@jacobfrydman) - Twitter: https://twitter.com/jacobfrydman

Jacob Frydman -- Huffington Post: http://www.huffingtonpost.com/author/jacob-frydman

Contact Info:
Name: JFN
Email: Send Email
Organization: JacobFrydmanNews.com
Website: http://www.jacobfrydmannews.com

Video URL: https://vimeo.com/jacobfrydman

Source URL: https://marketersmedia.com/jacob-frydman-on-how-flexible-workspaces-affect-the-office-market/512480

Source: MarketersMedia

Release ID: 512480

More Press Releases

Stan Lee's former manager arrested on elder abuse charges

May 26, 2019

LOS ANGELES — A former business manager of Stan Lee was arrested Saturday on elder abuse charges involving the late comic book legend. Keya Morgan was taken into custody in Arizona on an outstanding arrest warrant after being charged by Los Angeles County prosecutors earlier this month. Morgan faces felony charges including theft, embezzlement, forgery or fraud against an elder adult, and false imprisonment of an elder adult. A misdemeanor count also alleges elder abuse. Authorities say Morgan sought to capitalize on the Marvel Comic mastermind's wealth and exert influence over Lee even though he had no authority to act...

10 wounded as gunmen open fire outside New Jersey bar

May 26, 2019

TRENTON, N.J. — At least two gunmen fired into a crowd outside a bar in New Jersey's capital city, wounding 10 people, two critically, but the motive for the shooting remains unknown, authorities said. Mercer County Prosecutor Angelo Onofri said a vehicle pulled up to the corner outside Ramoneros Liquor and Bar in Trenton at about 12:25 a.m. Saturday and when the shooters fired more than 30 shots before fleeing. Five men and five women were taken to a hospital with gunshot wounds. Two of the male victims were listed in critical but stable condition while the others were in...

Leclerc tops 3rd practice in Monaco, teammate Vettel crashes

May 26, 2019

MONACO — Ferrari had mixed fortunes in third and final practice for the Monaco Grand Prix on Saturday, with Sebastian Vettel crashing and his teammate Charles Leclerc topping the charts ahead of both Mercedes cars. Leclerc, who is from Monaco, will look to clinch his second pole position of the season in qualifying later Saturday. In third practice, he was 0.053 seconds ahead of Valtteri Bottas and 0.213 clear of Formula One championship leader Lewis Hamilton. Red Bull's Max Verstappen was fourth fastest. Leclerc has impressed at times in his first season with Ferrari, but Vettel is struggling with his...

Mario Batali to face assault charge on groping accusation

May 26, 2019

BOSTON — Celebrity chef Mario Batali is set to appear in court on a criminal charge that he forcibly kissed and groped a woman at a Boston restaurant in 2017. Batali is scheduled to be arraigned Friday in Boston Municipal Court on a charge of indecent assault and battery. The woman filed a civil lawsuit in August alleging that Batali offered to take a selfie with her and then groped and kissed her repeatedly without her consent. Batali's attorney says the chef denies the allegations. The woman's lawyers said in an emailed statement on Thursday that Batali "must be held...

File says Smollett couldn't contact brothers after arrest

May 26, 2019

CHICAGO — One of Jussie Smollett's conditions after posting $10,000 bail amid charges he lied about being the victim of a racist, anti-gay attack was that he have no contact with two brothers police say he paid to help stage the incident, according to a case file unsealed Thursday in Chicago. Besides that detail, the "Empire" actor's criminal case file appears to contain little new information. The bulk of the more-than-250-page file centers on the legal battle between media organizations that wanted access to the file and Smollett's attorneys who wanted it kept sealed. In his order for the file...

Broaden News

Reporter Pass is the only access you need to get into Hollywood. No matter it’s the red carpet event or backstage access, we’ve got you covered.

Contact us: sales@reppass.com

Award ShowsCelebrityPaparazziRoyaltyMoviesMusicTelevision Programs Press Releases