The Second Wave Is Here: Making Work Work, CEO Series Vol. 9
Everyone keeps calling it a comeback. It’s not. It’s a correction.
A few weeks ago, The Wall Street Journal (Peter Grant) highlighted the resurgence of coworking. U.S. flexible space has grown from 115.6M square feet to 158.3M in just three years. Major companies like Pfizer, Amazon, JPMorgan Chase, Lyft, and Anthropic are actively using coworking as part of their portfolio strategy.
The narrative is that flexible workspace is “back.”
In talking to Workbar’s Sales Director, Bobby Murphy, what we’re seeing on the ground at Workbar is more nuanced, and more powerful.
The First Wave Was Shock. The Second Wave Is Strategy.
Post-COVID, companies grabbed flexibility because they had to.
Shorter terms. Hedge bets. Wait and see. That was survival mode.
What’s hitting now feels different.
We are flooded with existing member companies expanding their footprint across our Greater Boston locations. Not new logos testing coworking. Companies that are already inside our ecosystem saying: “We need more.” More offices. More desks. More regional coverage.
That’s not panic. That’s adoption.
Downsizing Isn’t Failure. It’s Clarity.
We’re also seeing a significant increase in broker referrals.
And here’s what’s interesting. Coming out of COVID, many companies thought they needed flexible terms. In reality? They needed less space.
They signed 20,000 square feet pre-2020.
They signed 6,000–8,000 post 2020.
Now they need 15-20 desks with the ability to solve for up to 50 at times.
But they still need quality. They still need proximity. They still need collaboration.
This is the second correction. The first correction was remote work. The second correction is now right-sizing.
And brokers know it. Their clients don’t want 10-year leases. They don’t want long-term liabilities on their balance sheets. They want optionality, and they want to avoid being wrong again.
Flexible workspace solves that.
Occupancy vs. Adoption (Again)
Here’s the lens I keep coming back to. Occupancy means space is leased. Adoption means space is used.
We’re not seeing companies reluctantly holding onto space.
We’re seeing teams choosing to gather 2-3 days per week. Leaders adding satellite access closer to where employees live. Companies expanding regionally instead of centralizing downtown.
When existing members expand, that’s the clearest signal of product-market fit.
You can’t fake that.
Why Regional Wins
The Journal points out that single-site and regional operators are growing faster than global chains.
That doesn’t surprise me.
Work is regional. Commuting patterns are regional. School schedules are regional. Talent retention is regional.
Companies want density across neighborhoods, not just a flagship HQ.
When a team in Salem expands into Needham.
When a MetroWest company adds Cambridge access.
When a downtown tenant opens desks closer to home for suburban employees.
That’s strategy. That’s portfolio design around people.
The 2026 Reality
The companies expanding right now aren’t experimenting. They’ve already tested remote. They’ve already tested oversized offices. They’ve already tested hybrid mandates.
Now they’re recalibrating.
And they’re asking a smarter question: “How much space do we actually need — and where?”
Flexible workspace is no longer the alternative. It’s the pressure-release valve for an office market still adjusting to reality.
Making Work Work
If 2021 was about uncertainty… And 2023 was about contraction… 2026 feels like precision.
Companies want less waste, Less long-term risk. More proximity. More flexibility. Better in-person experience.
They don’t want to be over-leveredged. They don’t want empty square footage. They don’t want to force people into space that doesn’t serve them.
They want right-sized ecosystems.
That’s what we’re building.
Occupancy fills buildings. Adoption, and expansion from within, tells you you’re solving something real.
The second wave isn’t about hype.
It’s about discipline.
And that’s when markets mature.
