It’s not a total pendulum swing, but as a reaction based on health concerns due to the COVID-19 pandemic, greater numbers of modern workspace seekers are shifting their demand back towards traditional, private offices in the New York market. More precisely, the contemporary market push is for hybrid workspaces … a serviced workplace that offers both cellular, enclosed offices and meeting rooms as well as open-plan, touchdown workspaces.
With the increase of larger and Fortune 500 companies moving to a ‘results and deliverables’ based remote work-way model and the shrinking of their headquarter space footprints (and therefore the reduction of the major fixed cost that goes with smaller real estate requirements), the deck has been shuffled and the needs of workers have evolved to the point where their daily workspace preferences require more alternating between working from home and/or from a more local, convenient flex space. Solopreneurs and digital nomads have identical needs as well since working from home, or a coffee shop, isn’t always the most professional, appropriate or ideal base to work from.
Ever since the advent of the serviced workspace industry in 1966 at companies such as the Fegen Suites based out of Beverley Hills and Omni Suites of Atlanta, who were the pioneers of the collaborative consumption and sharing economy movement, the track of the outsourced workspace model that also offers administrative services has bobbed and weaved adroitly to keep pace with the work-way demands of consumers – and today’s post-COVID environment is no exception.
When hot-desk officing options was what the public valued, the industry offerings swayed towards open plan touchdown spacing. The market asked for Day Offices and Virtual Office Plans – no problem. The industry was in lock-step and in many instances one step ahead to satisfy that massive need.
Now there’s a return to the private office requirement for post-pandemic health concerns, and the Serviced Workspace industry is once again Johnny-on-the-spot. It’s not a total pendulum swing since the market still calls for some Coworking/Touchdown Space options, thus remote workspace operators have again adjusted to a hybridized menu where workers can have an enclosed office if they prefer one or get an hourly, upscale, no frills, plug-and-go open plan workspace, similar to what you see at hotel or airport lounges. Hybrid workspaces suit everyone, and this model is what will more than likely rule the roost for the next decade or two.