

With large companies such as WeWork closing 40 locations, citing ‘demand didn’t come back as quickly as we thought’ - what exactly is left of the office market? Yet, it has been researched and confirmed that there is a certain demographic that certainly doesn’t mind being in the office, they just dislike the commute. In cities like London and New York City, pre – pandemic, you would have many employees regularly travelling 45-60 minutes and some times more on a daily basis, and as travel costs escalate then it becomes even more challenging; therefore if you have the option to reduce the time spent doing that, many are doing so. With that said, now more than ever, co-working providers are seeking management agreements or revenue share agreements with Landlords and looking at more of a partnership approach versus the traditional landlord/tenant relationship.