CNN: How Work from Home has Changed Office Real Estate

International Workplace Group (IWG) is the world's largest provider of flexible workspace solutions, with more than 3,300 locations in over 120 countries worldwide. Mark Dixon, CEO of IWG, recently spoke with CNN to discuss how the "work-from-home" trend has drastically affected corporate real estate with companies less focused on "fixed space.”

"Effectively, your office is now not a physical space anymore. It's in the cloud. It's operated by Google or Microsoft,” said Dixon. “The office has changed. Digital changed it. And the real estate industry is just catching up with it at the moment.”

Dixon told CNN that the commercial property sector will see a change. “Like in all things in business, there are normally winners and losers,” he said. “If you look at the winners, it's going to be companies that become much more efficient. [Those with] workers who become a lot more mobile and work in much more convenient locations with less commuting, and companies that provide space closer to where people live, are going to do well. All of our provincial and countryside locations have done well.”

He added that, as the industry adapts, he expects the property industry and downtown areas to adapt, too. “We have, and I'm sure others will do it as well.”