The cost per desk for flexible workspace in South Florida was up in 2021 over 2020, with Fort Lauderdale leading the way, while Miami led flexible workspace demand.
The cost per desk for flexible workspace in South Florida was up in 2021 over 2020, with Fort Lauderdale leading the way, while Miami led flexible workspace demand.
Fort Lauderdale
While there was no change to the number of flexible workspace centers year-over-year, demand increased by 47 percent according to inbound inquiries to Instant Offices, and the cost per desk increased by 13 percent ($487 per desk vs. $431 per desk. Demand was up by 50 percent for 0-2 person requirements, and by 54 percent for 3-9 person requirements.
Hollywood
Hollywood also saw no change in the number of flexible workspace centers year-over-year; however, demand was up by 32 percent and the cost-per-desk was up six percent, from $448 per desk to $473 per desk. Inquiries were up the most for 0-2 people, 58 percent more than in 2020, whereas accommodations for 3-9 desks was down 27 percent.
Miami
Miami has the most flexible workspaces in the region, 114 in 2021, which represents a four percent increase over 2020. Demand was up 66 percent in 2021 vs. 2020, and the cost per desk was up three percent, from $561 per desk to $578 per desk. Accommodations for 3-9 people/desks saw the most growth in this market, up 83 percent year-over-year, while 0-2 person requests were up 63 percent and 10-25 person accommodations were up 21 percent.
“As employee-first trends lead the way, the Miami flexible office market has seen record demand from corporates looking to establish a presence in this lifestyle city or to take advantage of Miami as the hub into Latin America. Availability in certain hot spots such as Brickell, Aventura, and Wynwood is dwindling, driving up desk rates and giving flexible office operators opportunity for expansion.” Luis Perez, Managing Director LATAM, The Instant Group
