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Business Solutions

POST COVID-19:

IS IT TIME TO RETHINK

FLEX SPACE STRATEGIES?

Coworking is a decades old concept: think Regus, To further complicate this situation, ensuing return-
WorkClub and Techspace. But in the past five years, the to-work strategies will need to consider social distancing
industry has witnessed a meteoric rise in coworking and and office density, safety and wellness, team collabo-
flex space options. The top 10 independent operators, ration, productivity and much more for traditional office
including WeWork, Convene and Industrious, now account space. But how will flex and coworking strategies adapt?
for approximately 10 million square feet of the aggregate
leased flex office space in primary markets here in the U.S. Boxer Property and Stemmons Enterprise (a universal
platform for systems, data and processes) partnered
While a relatively small percentage of the overall office to present a unique solution: Workstyle, a coworking,
space, this movement toward densification, “experience collaboration and flex space model independent of
factor” and short-term leases has identified a critical gap third-party operators. The collaboration has resulted in
in the way office space has been traditionally designed effectively meeting the inherent challenges of pre- and
and deployed, resulting in a dramatic rethink of portfolio post-COVID-19 coworking and flex space operations.
strategies for owners, developers and corporate occupiers.
Deploying Stemmons Enterprise allowed Boxer
Two significant factors, the WeWork deflation and Property Management to meet customer needs
COVID-19 pandemic, have caused landlords to radically and become one of the largest direct providers of
rethink their respective strategies. With respect to the flexible spaces in the country without the extra layer
latter, in only a few months, the world has learned to of an intermediary. The WorkStyle model focuses on
work in decentralized configurations. This shift has many dedicated enclosed space for every customer—there are
employers and employees alike fundamentally questioning no “hot desks” or drop-in memberships; every customer
the validity of the office environment. gets a door they can close.

As contemporary flex and coworking models evolve, Having the landlord (or its property management and
many landlords are scrambling to keep pace and are leasing team) provide flexible space to small users opened
consequently experiencing inevitable growing pains in trying up some incredible opportunities unavailable when using
to align with new models. Many are now contemplating an intermediary. In particular, Boxer can present the same
creating their own in-house branded programs. space to three different audiences, concurrently.

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