A recent report by JLL notes that over the next 10 years, flexible space will make up nearly one-third of all office stock – and retail investors are doing what they can to grab their market share today.
Here’s why coworking and flexible office spaces in retail storefronts and malls is a trend that’s just beginning.
That’s good news for owners of retail property and shopping centers with a lot of retail space for lease.
The end result is that there’s plenty of retail space available in both urban and suburban locations to be converted into flexible office space.
JLL surveyed 75 coworking spaces in retail centers and identified four distinct types of use: Retail Launchpads target retail start-up businesses by offering retail incubation and demo space within upper-income malls and retail locations.
Coworking company Spaceus in Boston locates in vacant retail storefronts and combines coworking office space with retail showrooms and performance space.
Recently, office supply retailer Staples announced the launch of Staples Studio, offering coworking space inside Staples retail stores.