Flex Space
Flex space is a hybrid commercial real estate product that combines industrial and office characteristics in a single building — typically single-story with dock or grade-level loading plus finished office space. Used by small businesses, R&D tenants, and service operators.
What it means
Flex space buildings are typically 20,000–100,000 SF with ~25% office build-out and the balance in warehouse or light-industrial space. Configurations support small-business tenants who need combined office, assembly, storage, and light manufacturing.
Flex space was traditionally categorized as industrial but has increasingly been treated as its own subcategory. Cap rates sit between pure industrial and suburban office. Strong markets for flex include secondary metros with small-business density.