Shared-office industry adapts to COVID-19 changes

Like the rest of the commercial property markets, the shared-office business has been significantly affected by the pandemic.

Some of the country's biggest commercial real estate firms are adapting to how co-working will function in a COVID-19 world and beyond.

Dallas' Stream Realty Partners is setting up a new flexible workspace platform.

And commercial property giant CBRE is teaming up with other office industry providers to map the way forward for co-working. CBRE's Hana shared office operation is working with representatives from companies including Samsung, Herman Miller, Structure Tone and Muraflex to plot the future of the industry.

"The way people are working is evolving rapidly," Andrew Kao, vice president of Product and Marketing for Hana, said in a statement. "It is increasingly challenging for companies to offer the flexibility to connect and collaborate from a variety of places while also providing a great, productive workplace experience."

Kao said the new collaboration will help "develop solutions that increase safety and team performance while inspiring employees to once again meet face-to-face with their colleagues."

The new effort will deal with issues including touchless office solutions, cleaning protocols, ergonomics, health-conscious design, video-enabled connectivity and collaboration solutions.

"Customers and employees are looking for more flexibility than ever before, given the dynamic environment that will persist for much longer than anyone could have ever expected," Mark Quiroz, vice president of marketing, Samsung Electronics America, said in a statement.

Dallas-based Stream Realty Partners' new Rapid Office initiative will provide clients with flexible workspaces, online shopping for the locations and accessible business resources.

The commercial property firm also hopes building owners will turn to Stream Realty to take over failed co-working office centers.

"About nine months ago, we did a deep dive into what makes the top players in co-working successful," Ben Hautt, Stream Realty comanaging partner, said in a statement. "What we came to find out is that their business to consumer platform was the reason for their success — not just the decked-out coffee bar or trending culture.

"Tenants want a streamlined process and would prefer to lease space in a hassle-free environment," he said. "Rapid allows our customers to lease a space in less than 24 hours."