“Shared Office Space” Tenants Widening CRE Niche

Some office building owners are taking advantage of a growing phenomenon: tenants that specialize in using the space they rent to set up move-in ready, executive office suites for companies that want the benefit of professional office space, without restrictive, long-term leases. Upscale building owners are benefiting from the business model, which uses shared office space solutions that feature common areas like client lounges and open spaces for socializing and networking, as well as closed offices and conference rooms for uninterrupted privacy.