Valley Co-working Space could see Surge as Companies Seek Flexibility as Pandemic Wanes

Article originally posted on Phoenix Business Journal on June 7, 2021

A shifting office market as companies decide where and whether they want to have permanent office space could drive more companies to try coworking for extra flexibility.

“Companies have been slow to make real estate decisions,” Ryan Timpani, managing director at JLL, said. “Post-vaccine, coworking provides for flexible workspace options, immediate occupancy, and a lot of these buildings are well-amenitized.”

Timpani and senior associate Nick Bialkowski serve as leasing agents for coworking giant WeWork in the Phoenix market.

Timpani said companies that are new to markets approach moving a lot like people who move to a new city do, often by renting something for a shorter term before committing to a more permanent space.

“Phoenix is experiencing an influx of new market requirements – a scenario in which the availability of high-quality, turnkey flexible office space is critical,” Timpani said in a statement. “WeWork spaces give companies a way to quickly plant a flag here, immerse themselves in the local market and gather the labor and submarket familiarity they need to put strategies for long-term local growth into action.”

Find the complete article here: https://www.bizjournals.com/phoenix/news/2021/06/07/valley-coworking-space-surge.html?cx_testId=40&cx_testVariant=cx_9&cx_artPos=6#cxrecs_s

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