San Diego Snapshot – September 12, 2017

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Is flexible office the new black?

Downtown holds the greatest share of flexible office space

  • Coworking, Executive suites, and Incubator space operators are increasing their presence in urban markets. Downtown leads San Diego County with 15 companies totaling approximately 261,000 Square Feet. Flexible office companies, such as Regus, WeWork, Barrister Suites, and Premier Business Centers are providing one stop shop work environments, accommodating the evolving needs of entrepreneurs, freelancers, remote employees, and small business owners.
  • Flexible office companies are popular in the live, work, and play high-density areas like Downtown San Diego. With the Convention Center, Trolley Line extension, and 4,000 new condo units under development, Downtown is attracting all types of working professionals. Additionally, Millennials make up 40% of Downtown San Diego residents that are between the ages 18 and 34.
  • Downtown flexible office space provide Millennials with the communal amenities they want, pointing to additional growth in this sector and impacting commercial real estate markets.

Patrick Ashton
Senior Research Analyst
858 410 6346
patrick.ashton@am.jll.com

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