2023 GWA Conference Recap

The Global Workspace Association’s recent conference served as a focal point for discussions and innovations in the evolving world of flexible workspaces. Check out these articles and session summaries for key takeaways and main insights:

PilotoMail Shares Their 3 Takeaways:

• The present is the new future of work, with a clear focus on leveraging technology for automation, user-friendliness, and a sensible ROI.
• Culture and community are the lifeblood of coworking spaces, fostering a thriving community and bringing diverse professionals together.
• The current market is ripe for managed contracts, with landlords more open to negotiations and ensuring each deal benefits all parties involved.

Source: PilotoMail

Preferred Office Network’s Insights:

• The flexible workspace industry is undergoing significant transformation, with a shift towards more sustainable and adaptable business models.
• There’s a growing emphasis on community building, with spaces being designed to foster collaboration and innovation.
• The industry is witnessing a surge in demand for hybrid work solutions, with businesses seeking a blend of in-office and remote work setups.
• Technology is playing a pivotal role in enhancing user experience, with AI and IoT being integrated to create smart workspaces.
• Sustainability is no longer an option but a necessity, with green building practices and eco-friendly solutions being at the forefront.

Source: Preferred Office Network

Data-Driven Decisions Main Points

• Demand is higher post-COVID, but there’s been a subsequent drop to lower/historic levels of demand.
• Occupier inquiry sizes and term lengths have risen.
• Locations with 24-hour access, meeting rooms, and parking are in demand.
• Enterprise customers are willing to pay a 10-15% premium for flex workspaces that align with their ESG targets.

Source: Presentation Deck (Instant Offices & LiquidSpace)

Dror Poleg’s Key Takeaways

• Offices will be repurposed, reshuffled, and reimagined.
• Emphasis on the office of the future being a network, not a place.
• The importance of letting users shape the product and pushing decisions to individuals or teams.
• The transformation of office locations into consumer products and the growing significance of brands.
• The need for new financial structures to accommodate new services and volatility in the office space.

Source: Dror Poleg’s Keynote Presentation

CoStar Shares Trends and Highlights:

• Real estate professionals discussed the challenges with standard lease agreements and the hunt for new locations.
• The commercial real estate industry is undergoing a transformation, with landlords recognizing the benefits of incorporating flexible workspaces. 
• Lending institutions are now more inclined to finance office buildings that include flex spaces, a trend that was uncommon just a few years ago. This shift indicates a broader acceptance of the flexible workspace model in the traditional real estate sector.
• The trend of moving away from central business districts to more mixed-use neighborhoods..
• There’s a growing demand for flexible spaces specifically designed for meetings, driven by the need for in-person interactions.
• The concept of “live, work, play” areas is gaining traction, with coworking spaces focusing on these regions.
• Companies are adapting to a more distributed real estate structure, tapping into a broader talent pool and making workspaces more accessible. This trend reflects the broader shift in the world of work, where flexibility, accessibility, and adaptability are key. 

Source: CoStar Article & CoStar Article

David Arraya’s Key Insights

• Don’t just provide a space to work; foster an environment where individuals feel valued, understood, and connected.
• Start meetings with expressions of gratitude, which serves as a shield of positivity and prepares individuals for challenges.
• Our energy flows where our attention goes, so there is an importance of controlling our attention to ensure our energy is directed productively.
• When individuals and organizations are aligned in their values, it creates a harmonious and productive workspace.
• Have a growth mindset, challenges are opportunities and we have the power to change our reactions to situations.

Source: David Arraya’s Keynote Presentation

The GWA 2023 conference provided invaluable insights into the future of flexible workspaces. As the industry continues to evolve, these takeaways will serve as a roadmap for providers, real estate professionals, and businesses navigating the world of flex work. 

For session presentations and recordings GWA members can find them in their Member Portal under Conference Recordings.