📊 WIN’s flex data expanding to OpEx reporting
Andy Williams, CFO at Runway East, breaks down why WIN (Workspace Intelligence Network) tracks Expand 👇 achieved rates, not headline ones, since flex incentives and opex swings vary widely and hit NOI directly.
Two years in, WIN covers 35 operators, ~500 spaces, and 9m sq ft across the UK, with a new Annual Opex Report now underway.
This may now rival the Operating Cost report Ben at Patch covered before, giving operators two independent benchmarks for achieved rates and real opex, useful ammo when negotiating leases or pricing memberships.
Andy Williams, CFO at Runway East, breaks down why WIN (Workspace Intelligence Network) tracks Expand 👇 achieved rates, not headline ones, since flex incentives and opex swings vary widely and hit NOI directly.
Two years in, WIN covers 35 operators, ~500 spaces, and 9m sq ft across the UK, with a new Annual Opex Report now underway.
This may now rival the Operating Cost report Ben at Patch covered before, giving operators two independent benchmarks for achieved rates and real opex, useful ammo when negotiating leases or pricing memberships.
🇿🇦 SA premium offices stay node-selective
François Viruly breaks down South Africa’s premium (P-grade) office market: national stock held at Expand 👇 ~2.3M sqm over the past year, while take-up fell ~20,000 sqm (partly from regrades to A). Gauteng holds ~78% of premium stock, with Sandton alone at ~34%, Rosebank 11% and Century City 5%. Strongest occupied-space gains: Bellville (+42,052 m²), Century City (+19,090 m²) and Sandton (+14,841 m²). SAPOA’s Q2 2026 survey put national vacancy at 12.1%, down from 13.3% a year earlier.
Demand is selective, not fading: premium is consolidating in a few high-quality nodes even as overall vacancies ease. Same pattern flex operators see when enterprises chase the best buildings, not just any empty desks.
François Viruly breaks down South Africa’s premium (P-grade) office market: national stock held at Expand 👇 ~2.3M sqm over the past year, while take-up fell ~20,000 sqm (partly from regrades to A). Gauteng holds ~78% of premium stock, with Sandton alone at ~34%, Rosebank 11% and Century City 5%. Strongest occupied-space gains: Bellville (+42,052 m²), Century City (+19,090 m²) and Sandton (+14,841 m²). SAPOA’s Q2 2026 survey put national vacancy at 12.1%, down from 13.3% a year earlier.
Demand is selective, not fading: premium is consolidating in a few high-quality nodes even as overall vacancies ease. Same pattern flex operators see when enterprises chase the best buildings, not just any empty desks.
📈 Awfis hits 5.6M sq ft portfolio
Awfis reports its managed office portfolio reached 5.6 million sqft across 17 cities and roughly 150 Expand 👇 centers, adding 1.8 million sq ft since its 2024 IPO. Revenue grew 56% year over year, and the company is hosting an investor call on July 10, 2026.
With managed office contracts now driving Awfis’s growth, expect more coworking operators to chase enterprise stickiness over flexible seat churn.
Awfis reports its managed office portfolio reached 5.6 million sqft across 17 cities and roughly 150 Expand 👇 centers, adding 1.8 million sq ft since its 2024 IPO. Revenue grew 56% year over year, and the company is hosting an investor call on July 10, 2026.
With managed office contracts now driving Awfis’s growth, expect more coworking operators to chase enterprise stickiness over flexible seat churn.
📊 Is there a higher ROI from aggregator clients?
Data from Alliance’s network (via author Alex Garza) shows aggregator-sourced virtual office clients Expand 👇 aren’t really lower quality, their retention is only 8-12% behind direct clients, and that gap shrinks further once you compare the same plan tier.
Alex makes the case that the real indicator of churn is whether a client activates a service like phone, lobby listing, or a DBA within the first 60 days, not which channel brought them in.
Another tip shared to get more ROI from aggregators, is to track 12-month lifetime value instead of just first month pricing, and build out your listing with photos, reviews, and clear service details rather than competing on the lowest price.
Data from Alliance’s network (via author Alex Garza) shows aggregator-sourced virtual office clients Expand 👇 aren’t really lower quality, their retention is only 8-12% behind direct clients, and that gap shrinks further once you compare the same plan tier.
Alex makes the case that the real indicator of churn is whether a client activates a service like phone, lobby listing, or a DBA within the first 60 days, not which channel brought them in.
Another tip shared to get more ROI from aggregators, is to track 12-month lifetime value instead of just first month pricing, and build out your listing with photos, reviews, and clear service details rather than competing on the lowest price.
🗺️ Coworking Availability Varies More Than Size Suggests
Eric Fleming looked at coworking availability per resident across US states using data from Expand 👇 CoworkingCafe and the 2020 U.S. Census.
Rural states like Vermont and Montana rank surprisingly high, while urban states like New Jersey and Rhode Island rank low, and big markets like California, Texas, and New York land in the middle once you adjust for population.
The takeaway for operators and real estate teams is that total market size alone can be misleading, per resident availability shows where a market is mature versus where there’s room for more supply.
Eric Fleming looked at coworking availability per resident across US states using data from Expand 👇 CoworkingCafe and the 2020 U.S. Census.
Rural states like Vermont and Montana rank surprisingly high, while urban states like New Jersey and Rhode Island rank low, and big markets like California, Texas, and New York land in the middle once you adjust for population.
The takeaway for operators and real estate teams is that total market size alone can be misleading, per resident availability shows where a market is mature versus where there’s room for more supply.
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