What’s driving this rise in short-term commercial real estate? One of the key takeaways from the last few years has been the need for companies of all sizes to stay agile.

Long-term contracts lock companies into spaces no matter how market conditions affect them. It can limit growth, keep them in offices that no longer suit their needs, and prevent them from matching the demands of their workforces. And with the incredibly competitive employment market that companies face, attracting top talent necessitates that organizations find ways to match how – and where – employees want to work.

Hybrid work, which blends onsite and remote work, looks different for every company. Sometimes it even looks different for every employee within that company. The common thread that runs through every hybrid situation is flexibility – for the employee, for the organization, and, increasingly, for the real estate arrangements that enable it.

A company that utilizes flex space has far more options to add a new hub in a suburb where one team might be concentrated, knowing that they’re not locked into that hub should those employees decide to leave or move to a new location. Companies can expand into new markets, testing the employment and consumer demand without committing to multi-year deals.

In short, flex space enables organizations not only to meet the changing demands of their market, but to meet the changing needs of their people.

And that, quite honestly, is the strong flex that most companies need.