Will Demand For Philadelphia Office Space Lead to More Co-Working Spaces?

Axios Philadelphia has an article, Demand for office space in Philly lags other large metros, which highlights a CRBE report which shows Philadelphia office space demand is currently behind other major metros except San Francisco. While this can definitely be an issue for those current Philadelphia office space investors, it can also present opportunity for those looking to invest.

The Motley Fool in, 3 Ways the Delayed Return to the Office Affects Real Estate Investors, explains how the slower than expected back return to the office continues to plague real estate investors. Within the article is a hidden potential gem for Suburban real estate investors, “people across multiple industries and professions who can work remotely are helping drive migration to smaller markets for lifestyle and affordability reasons alike. There seems little reason for this to not continue, especially with the continuing pandemic.”

One area which could potentially see an increase is the demand for co-working office space in Philadelphia and the suburbs. With companies hesitant to enter into new office leases, fitted out co-working spaces could offer the flexibility companies are looking for during these times of uncertainty.