Research & Insights

In the first quarter of 2022, one new flexible space has opened and two closed. Since the start of 2021, there have been 11 new openings and 7 closures. Currently, 52.38% of all operational flexible spaces have opened since the start of 2020. The market is currently experiencing closures of low-quality flexible spaces, while high-quality flexible spaces are seeing record low vacancy rates. A-class developments are experiencing an average of 2.02% vacancy rates as of the latest data.