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1.1 million s.f.of flexible offices opened in Washington, DC since 2012

  • ​Washington, DC accounts for 46% of Metro DC’s 3.1 m.s.f. of existing flexible office inventory, for a total of 1.4 m.s.f. WeWork is the largest flexible office provider in the District, in terms of total footprint, as the company occupiesmore than 435,000 s.f.
  • Of Washington, DC’s existing flexible office inventory, just 286,000 s.f. of it existed prior to 2012; 98% of this inventory was located in the DC core (East End, CBD and Capitol Hill) and consisted of executive office suites which were under the operation of groups like Carr Workplaces, Metro Offices and Regus, among smaller rivals.
  • Since 2012, 1.1 million s.f. of flexible office supply has opened in the District, or close to 70 new locations. These spaces have been evenly distributed between core and emerging markets as close to 518,000 s.f. of new flexible office locations have opened in emerging markets primarily to the east and south.
  • ​Looking forward, the District’s flexible office supply will continue to grow as companies such as MakeOffices and Industrious open more than 60,000 s.f. of combined new flexible office space over the next year, while other aforementioned and new emerging groups continue to tour the market for future locations.
Source: JLL Research

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