IWG To Expand in Buffalo Grove With New Regus Location

The new Regus center is a nearly 20000 square foot space approximately 30 miles Northwest of Chicago. The space features sweeping views, natural light, and ample parking. Downtown Chicago is easily accessible via rail, or by car with easy access to both I-94 and I-294.

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

Industry growth trends

The flexible workspace industry is growing exceptionally fast, said Wayne Berger, CEO of IWG Americas. 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:

• Professional workplace brand Regus
• Creative workplace brand Spaces
• Hassle-free workplace brand HQ
• Luxurious workspace brand Signature

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.

Investment opportunities

As opposed to a traditional capital lease, 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, said Berger.

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.

The new signing in Buffalo Grove is 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.

Future expansion plans

The world is seeing a complete renaissance of the workplace, said Berger. 90% of employees want to work in a flexible way, 88% of companies have instated flexible arrangements and 50% of employees say they will leave their job if they can’t work flexibly.

IWG aims to add 1000 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.

IWG provides flexible workspaces in convenient locations alongside industry-leading technology, enabling teams to collaborate better and more seamlessly. It also offers shorter lease commitments, thereby allowing for ultimate flexibility.

IWG companies help millions of people and their businesses to work more productively. It provides a choice of professional, inspiring and collaborative workspaces, communities and services.

Digitalization and new technologies are transforming the world of work. People want the personal productivity benefits of living and working how and where they want. Businesses want financial and strategic benefits.