Cushman & Wakefield has joined fellow broker CBRE and launched its own flexible office business.
The operator, called Indego, has been launched in London. It is part of a growing trend for brokers to set up flexible office brands to rival big players like WeWork, IWG and The Office Group.
Cushman described Indego as a “white label service for office landlords and investors” that encompasses design and build, marketing, sales and on-site operations offered under a management agreement with the company. Cushman pointed out that such management agreements are a common part of the hotel sector. It means that the company won’t have to sign leases on space that it operates.
Indego will be led by Emma Swinnerton, former global commercial director for spaces and new formats at serviced office giant Regus. Swinnerton joined Cushman in 2018 as an adviser to landlords and operators on the flexible space market.
It will offer coworking space as well as fixed offices for larger businesses.
“Indego enables our clients to meet the rapidly growing demand for flexible workspace — and the improved returns it offers — on their terms,” Swinnerton said in a press release.
CBRE was the first brokerage to launch its own flexible office operator, Hana, in late 2018, and now has outposts in multiple U.S. cities plus London.
Cushman said that it would continue to provide advisory services in the flexible office sector.
CORRECTION, FEB. 24, 4:45 P.M. ET: In an earlier version of this story, we described Pivot, a flexible office service line of Savills, as a serviced office provider like CBRE's Hana. Pivot advises landlords on setting up flexible office space, but is not an operator or a flexible office brand. The story has been amended to reflect this.
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