IWG Signs Agreements for Two New Locations in Illinois

IWG is poised for significant growth in both suburban and urban markets across North America, as a result of the growing demand for flexible workspace, accelerated by the COVID-19 pandemic.

A new nearly 10,000 square-foot Regus space is coming to Lisle, featuring beautiful windows and close proximity to retail and restaurants. Another IWG HQ branded location will be opening in Naperville, located in a shopping center within walking distance to popular brands like TJ Maxx and ACE Hardware.

Market trends

• 42% of the U.S. workforce is working remotely on a full-time basis.
• The global flexible workspace industry is projected to nearly double in size, from $7.97 billion to $13.03 billion, by 2025.
• By 2030, 30% of all commercial office space will represent flexible workspaces, whereas today, it is less than 4%.

The pandemic forced most people to work from home for two years, creating a monumental shift in how employees want to work moving forward, and how companies are supporting their employees and their bottom line. People want flexibility, and progressive companies understand the financial and operational advantages of moving a percentage of their real estate portfolio from a traditional lease model to flexible workspaces.

IWG offers four flexible workspace concepts under its umbrella to match every kind of business, work style and price point, including:

• Regus: professional workplace brand
• Spaces: creative workplace brand
• HQ: hassle-free workplace brand
• Signature: luxurious workspace brand

Business model

With over three decades of experience, IWG has fine-tuned its business model to optimize revenue and provide landlords, business investors and property management companies with an attractive opportunity.

Landlords can sign a partnership agreement with IWG and invest the capital in converting the space into dynamic and productive flexible workspace, earning operating income from day one, a higher return on net assets and increased flexibility. For business investors, IWG represents a unique opportunity to enter the booming flexible workspace industry, which offers wide open territory availability, low start-up costs, simplified operations and more.

Expansion plans

The new signings in Illinois are the latest addition to the IWG footprint, expanding rapidly as it capitalizes on the fast-growing demand for flexible workspaces. The team plans to open several more locations in the region.

• 90% of employees want to work in a flexible way.
• 88% of companies have instated flexible arrangements.
• 50% of employees say they will leave their job if they can’t work flexibly.

Looking ahead, IWG aims to add 1,000 new locations in North America a year as it continues to attract a variety of landlords, business investors, property management companies, banks and asset managers.