I talk about flex space development all day, every day. But, what ARE flex spaces? Read along for my ultimate guide on what flex space means and what they’re used for. Essentially, flex space buildings are buildings that include office and warehouse facilities in the same space. This means that the type of businesses looking for flex spaces to lease, are looking for a single unit to rent that meets all of their needs.
History of Flex Spaces
Flex spaces fall under industrial real estate. This is a niche that has really boomed since the COVID-19 pandemic. During recessionary periods, big businesses look to downsize through flex spaces. Small businesses, including e-commerce businesses, look to run their operations in a flex space warehouse business park. The reason for this is because businesses who lease flex spaces have the ability to store their product in the warehouse while also having a space to interact with customers and complete their business operations. The versatility of these spaces allows for any type of tenant to fully customize their space to fit their needs.
Here is what a flex space floor plan could look like:
My Flex Space Tenants
In my flex space business parks I have had tenants such as car tinting businesses, gyms, daycares, showrooms and coffee shops rent out one or more units for their businesses. This is why I build large buildings that are divided into 1500-2000 sq ft units. This attracts the small to medium size businesses that I consider to be my matched tenants. In reality, companies are looking for a combined warehouse and office space for their businesses that don’t have very long leases.
Flex spaces are truly an underrated asset class, and that is why I have made millions by being in this space. Not only that, but flex space office warehouses are recession-proof! How? During a recession, large businesses are looking to downsize in areas that have flexible spaces to fit their needs, shorter leases, and have the combined office/warehouse space. So, when everyone else is wondering on how to ride out the next recession, I look forward to all the new tenants I am about to receive.
What my flex space looks like:
Building flex spaces is my passion, but it was not easy to learn how to build, scale, and automate my business into what it is today. That is why I created the intensive coaching mastermind Flex Space Untapped, so you can learn how to build and sell flex spaces from A to Z. Get more information about the course here.