Regus Renews Houston Commitment as Flex Office Space Look Solid in 2021

HOUSTON – (Realty News Report) – Regus, the biggest flex-office/co-working organization in Houston, has renewed its 18,000-SF lease in the One Westchase Center in West Houston, Transwestern reported.

Many tenant companies will be leaning on flex office space and co-working solutions as businesses navigate uncertainty in the coronavirus pandemic and in the post-Covid era, industry experts say.

In the Westchase lease, Transwestern’s Senior Vice President Louann Pereira, Managing Director Doug Little and Vice President Matthew Seliger provide agency leasing services on behalf of the landlord, Nitya Capital.

CBRE’s Kevin Saxe and Corbin Janssen represented the tenant, RGN Houston I LLC, doing business as Regus.

In September, a CBRE survey of major companies across the globe found that 86 percent anticipate using flex space as a key part of their real estate strategies going forward. That was up from 73 percent in June. Additionally, 82 percent of the seventy-seven companies surveyed said they will favor buildings that include flex-space offerings.

The nation has 83.6 million SF of flex office space and 2.9 million SF is located in Houston, CBRE reports.

Regus No. 1 in Houston; followed by Boxer

Regus, with 717,107 SF, is the largest flex space operator in Houston, followed by Boxer Workstyle Executive Suites. WeWork, Spaces and The Cannon, CBRE reports.

“This downturn has sparked flex office to become a strong alternative to traditional leases for many office-using companies,” said Julie Whelan, CBRE Global Head of Occupier Research. “That is in large part because flex space can provide companies the agility to accommodate a workforce that values more choice over where and how they work.

“Additionally, the flex-office sector is growing increasingly resilient as more landlords operate their own flex space or form partnerships with flex operators for portions of their buildings,” she said.

In August Nitya Capital, a Houston real estate firm led by Swapnil Agarwal, acquired the One Westchase Center office tower in West Houston.

The 466,000-SF building, 10777 Westheimer, is located just west of Sam Houston Tollway.

Dec.29. 2020 Realty News Report Copyright 2020

File: Regus Renews Houston Commitment

Photo: Courtesy Transwestern

File: (2) Transwestern. Nitya Capital. Regus Renews Houston Commitment in Westchase.Co-working. CBRE. Julie Whelan.

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