If an expected economic slowdown comes, the flexible-space industry will be well-poised to capitalize, top players in the space said. Participating in the forum were Jamie Hodari, CEO and Founder of Industrious, Brad Hargreaves, CEO and Founder of Common, Barry Gosin, CEO of Newmark Group, and Bruce Mosler, Chairman of Global Brokerage at Cushman & Wakefield.
Bruce Mosler commented that the demand for flexible space “is going to grow because it’s what corporates have wanted for a long time”. Brad Hargeaves, CEO of co-living firm Common, noted that his field may still be in its infancy. “Some of the trends are similar to co-working,” he said, such as the sense of shared community it can provide.
Barry Gosin, CEO of Newmark Group, said too much dedicated co-working space in a single property isn’t ideal. “I’m not a big fan of a co-working space taking more than 15-20 percent of a building, because I think then you diminish the credit quality of a building,” he said.
Jamie Hodari, CEO of flex-office firm Industrious, agreed, saying the “holy grail” of co-working would involve a mix of long-term, middle-term and flexible leases within a single property.