CHAPTER 12 Why Flexible Leasing xible Leasing is Important
Flexible leasing or flex space is becoming more and more popular in office space. Most leases are still usually long-term agreements, but now it’s possible to have it be more flexible than in the past. Every tenant should have the goal of getting a flexible lease. Even if it doesn’t happen, it’s more than worth exploring. In the economy today, where business is more volatile at times, a shorter lease lets your business maintain the most flexibility. Tenants have some options to add this flexibility into their leases. Those options have to do with many new trends in leasing. Here are the current trends in today’s market.
COMBINING FLEXIBLE OFFICE SPACE AND CORE OFFICE SPACE
Co-working space is expanding all over the country. Tenants are signing long-term leases with property owners while also coming to terms with co-working spaces in the same building or nearby to accommodate flexible teams. This strategy would work best for the fastest growing corporate tenants. With it, they can add flexibility to a lease and plan their extension with their flexible space. Landlords are more likely to agree to this since core office space is already locked in. The other space can be used more flexibly that way. It’s also relevant to teams that need a short-term project done, 71
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