2020, a year like no other – and no, that’s not an understatement.
Within the flex office industry, 2020 will be known as the year where the work environment was quite literally altered.
Companies were forced to completely re-evaluate their real estate portfolios and once-bustling corporate offices were vacated in exchange for remote work.
But the flex office industry didn’t waver in the face of doubt and change amidst a period of turbulence.
Our members rose to the occasion, providing clients with new, innovative ways to work.
From the emergence of terms such as hybrid coworking, virtual meeting rooms, and even a new floating method of coworking, Preferred Office Network saw and heard it all.
During this uncertain time, PON is proud to be the leader of a network of innovative workspace providers that are continually re-defining the term ‘coworking’ and meeting today’s ever-changing flexible office needs.
Let’s jump into some statistics about what makes this network so special.
In 2020:
PON added 35 new member operators – a 119% increase from 2019. To date, the network is now home to 183 members.
PON unlocked workspace locations in 25 new US markets which are as follows:
- Anchorage, AK
- Encinitas, CA, Glendora, CA, and San Marcos, CA
- Norwalk, CT
- Palm Beach Gardens, FL and Longwood, FL
- Peachtree City, GA, Newnan, GA, and Johns Creek, GA
- Highland Park, IL and Fairview Heights, IL
- New Orleans, LA
- Detroit, MI
- Springfield, MO
- Flowood, MS
- Asheville, NC
- Albuquerque, NM
- Syracuse, NY
- Hillsboro, OR and Lake Oswego, OR
- Prosper, TX
- Knoxville, TN
- Farmington, UT
- Liberty Lake, WA
PON now has workspace destinations in 319 total US cities and 336 total North American cities.
PON expanded overseas, adding workspace destinations in:
- The UK
- China
- Indonesia
- Malaysia
- Myanmar
- Philippines
- Singapore
- South Korea
- Sri Lanka
- Thailand
- Vietnam
PON closed deals in 35 different markets. Of those deals, 15% were closed in the Midwest, 10% in the Northeast, 39% in the South, and 36% in the West.
Outside of the numbers…
PON was proud to introduce several refreshed products and work approaches that were designed to meet 2020’s changed landscape.
First was YESpace, PON’s coworking product – the largest of its kind – which allows users to access multiple coworking locations with ease.
YESpace has no commitment, no exit fees, and just one monthly invoice, ideal for those who are uncertain of what work will look like in the months ahead.
Second was BluPrint, PON’s custom office suites product, which provides clients and their teams of any size with a dedicated workspace, outside of a coworking setting,
BluPrint allows clients to tailor their workspace to meet their ideal comfortability, something that has been crucial within the physical – and virtual – work environment in 2020.
Next, PON introduced the floating method, a unique approach to coworking that allows companies of all sizes to place teams in reduced capacity workspaces that are both safe and socially distanced.
Simply put, the floating method is used when a company leases a workspace, but only half of their team occupies the space at any given time – while the other half of the team works remotely.
This presents an ideal balance between working from home and working from the office – allowing individuals to personalize their schedules to match their work preferences.
And finally, arguably the most momentous of all, with the calendar shifting to 2021, PON celebrated its 10-year anniversary.
A significant milestone for everyone involved with the network, PON’s 10-year anniversary serves as a reminder of the humble beginnings that the network comes from.
Looking forward, “Our industry is experiencing tremendous demand in flexible work offerings as office tenants reimagine how their employees work on a day-to-day basis,” says Tom Fuge, PON’s Managing Director of Real Estate.
“PON is positioned to help our clients re-enter the office market in the most efficient way possible,” he added.