Although flex office and coworking space still represents a small share of overall office occupancy, its footprint is expanding rapidly across Canada.
- Canadian flex space accounted for 6.6M square feet by the end of 2019, representing 1.1% of national office inventory
- Since 2017, national flex inventory has grown 59%, totaling 2.4M SF brought to market
- The market is dominated by two major players; IWG and WeWork, which represent 51% of national flex inventory
- Toronto is the national leader in total flex inventory, representing 40.8% of the Canadian market