Technology has dramatically changed where, when and how people work. Another contributing factor that isn’t as sexy but is arguably just as influential for the working world: the rising price of commercial real estate.
As the cost of traditional 10- to 15-year office leases has ticked up nationwide, corporate tenants who want to be able to scale quickly are turning to shorter and less costly 1- to 5-year leases where they can add (or reduce) square footage at a much faster pace. As a result, flexible and co-working spaces are now the fastest-growing type of office space in commercial real estate. They currently comprise less than 5% of the market and are expected to make up 30% by 2030, according to real-estate company JLL.
CNBC Make It spoke with experts in the office design space for what workers can expect in 2020 and beyond.