PropTech Innovator Strengthens Leadership Team with Strategic Hire to Accelerate Commercial Real Estate Growth
Proximity, a pioneering force in property technology solutions assisting in the managing of millions of square feet of flexible workspace, today announced the appointment of Mike Flanagan as Investor / Chief Revenue Officer. This strategic addition to the leadership team marks a significant milestone in the company's expansion into the broader commercial real estate market, with millions more square feet already committed to its platform for 2025.
With seven years of proven success delivering innovative hardware and software solutions to the flexible workspace sector, Proximity is strategically positioning itself to address the evolving needs of the commercial real estate industry. Mike Flanagan brings extensive executive leadership experience in commercial real estate amenities, including his role as Strategic Advisor for Arch Amenities Group and his previous work as CEO of LifeStart (acquired by AAG in 2020). His proven track record of driving growth and innovation in the CRE amenities sector spans decades of industry leadership.
"The commercial real estate industry is at a pivotal point of digital transformation, and Proximity is uniquely positioned to lead this change," said Flanagan. "I'm excited to join a company with such a strong foundation in both hardware and software solutions, and I look forward to helping expand our impact across the commercial real estate sector."
In his new role, Mike Flanagan will spearhead the company's strategic initiatives and revenue growth, leveraging his deep understanding of CRE and extensive industry relationships. This appointment reflects Proximity's commitment to strengthening its market position and accelerating growth in the commercial real estate sector.
"We are thrilled to welcome Mike Flanagan to our leadership team," said Josh Freed, CEO of Proximity. "His expertise in CRE amenities and proven ability to drive strategic growth aligns perfectly with our vision for the future. This appointment represents a significant investment in our expansion strategy and our commitment to delivering innovative solutions to the commercial real estate market."
About Proximity: Proximity is a leading PropTech company that has been innovating in the real estate industry since 2017. Initially focused on flexible workspace solutions, the company has built a robust portfolio of hardware and software products that enhance property operations and user experience. Today, Proximity manages millions of square feet across its network of over 400 locations, with millions more committed for 2025. The company's proven track record in access control and space management technology positions it as a trusted innovation partner for the broader commercial real estate market.
7 ways to optimize revenue owning a boutique coworking space
Since 2020, the number of coworking spaces worldwide has more than doubled from a little over 19,000 to approximately 42,000 today. It’s easy to assume the pandemic was where this massive growth came from but data shows the biggest inflection has been in the last 18 months.
With this trend, the opportunity to get more from life outside of work has grown significantly regardless of whether you’re fully remote, in a hybrid role, or you work for yourself.
As people prioritize where they want to spend their time outside of work, many small towns and tourist destinations have seen a significant increase in demand for shared offices. A coworking space that fits their needs means someone can extend the length of a vacation right through to allow someone to spend weeks or even months in a location while still getting their work done.
An example of this is Coworking Whistler (BC, Canada), which only has 14 desks and is located in a town of fewer than 14,000 people. Being a tourist town their offering extends to the nearly 3 million people who visit annually. That said, the majority of visitors arrive over a few months of the year.
So, to make a small coworking office space like this more viable, these are seven tactics their owners use to drive their revenue year round.
1: Offer seasonal dynamic pricing
Being in a resort community the majority of their revenue is made between December - April even though rent is the same each month of the year.
To best optimize revenue they implemented variable pricing for peak versus shoulder seasons to effectively capture revenue during peak months while also offering a lower barrier to membership the rest of the year.
2: Engage with traditional media, be active on social media and build relationships with local government
Promotion of the space and their events is regularly shared online through social media groups within the community along with anything notable pitched to local media outlets. General awareness and smart SEO is available by constantly keeping both of these channels informed of the coworking space and what they’re up to.
Beyond media, forming a relationship with the local Chamber of Commerce and Tourism Board created opportunities to gain access to their databases while staying informed of upcoming local events, conferences, or other opportunities where coworking could help add value.
3: Build add-ons and diversify membership types
Their most valuable add ons come in the form of ‘storage’. In the winter it’s skis and snowboards with summer being mountain bikes. There is a massive convenience factor of having expensive gear securely stored a 2 minute walk to the mountain. This is something evaluated as not only an upsell for temporary members but also has become its own membership type in peak season.
They also work with members to offer desk sharing arrangements and ‘off peak’ memberships (i.e. after 5pm weekdays and 9-5 weekends only). Both of these arrangements drive more revenue per desk while raising awareness of the workspace with more members using the space regularly.
Another opportunity for small spaces is looking to offer mail or package delivery services, if relevant.
4: Offer worthwhile discounts for annual memberships
To keep long-term members from looking elsewhere they offer a percentage cash back incentive based on the length of an agreement. Beyond that many of the add ons their visiting members pay for are included free or heavily discounted with a long term membership.
For example, Ski and Snowboard storage is included free in the winter while mountain bike storage is 67% cheaper for permanent members.
5: Host real-world events for the community
Operating a workspace is one thing, but being a recognizable face in the community is more valuable for many locals. In order to better engage with the local community they host a monthly social meetup to help foster better connections around town.
They do this by hosting the event signup using Proximity and on their website. This also helps to get contact details as most people also register as a Community Member of the workspace (which is a $0 membership category).
6: Put your community first with locals-only deals
In shoulder season they offer “locals only” discounts and deals for all types of memberships.
The coupons are shared via their CRM, to Community Members along with posts to various social media accounts and groups.
7: Create an autonomous workspace for all types of remote workers
They created a space that works for everyone from a senior engineer from a FAANG company to someone building their first online e-commerce business. Lightning fast internet, great amenities and a well thought out design to their space means any member makes the most of their time both at the desk they’ve rented and in the rest of their daily life.
Another key thing is autonomy in the space - being able to problem solve an issue if they aren’t in the office by implementing proper desk and door management hardware and software has been essential. To do this they use the best online software platforms and ensured they have the necessary integrations needed to keep admin to a minimum — such as connecting to Quickbooks, Stripe and Zapier.
Lastly, having 24/7 access to the space means guests and members can work when they want. Coworking Whistler often has visitors from the UK and Australia working from the space at the same time but still from their native timezones. These remote workers can get a whole day of skiing either before or after their workday while taking little to no holiday time off to do so.
Understanding how Amenity Space is used in your building
In today’s fast-paced world, the way we utilize amenity spaces in buildings has become increasingly important. Whether it’s a cozy lounge, a vibrant rooftop terrace, or a state-of-the-art gym, these spaces play a crucial role in enhancing the overall experience for residents and employees. In this blog, we will explore the various uses of amenity spaces and how effective amenity management can lead to improved satisfaction in both residential and commercial real estate (CRE).
The Importance of Amenity Spaces in Modern Buildings
Amenity spaces are rapidly becoming central to modern building design and operation. With the rise of remote work and flexible arrangements, ensuring that these amenities are not only appealing but functional is crucial. They provide a sense of community and belonging, especially in large buildings. By prioritizing these spaces, property managers can significantly influence the satisfaction and loyalty of their residents or employees.
Moreover, amenities such as fitness centers or communal lounges can positively impact the mental well-being of users. This is essential in today’s fast-paced lifestyle, where stress is prevalent. By providing spaces designed for relaxation or social interaction, buildings can play a significant role in enhancing the everyday lives of their inhabitants.
As the demand for engaged living and working environments grows, recognizing the importance of these spaces enables building owners to create a competitive edge. By investing in the right amenities, properties can increase their market value, making them more desirable to both current and prospective residents.
Types of Amenity Spaces and Their Uses
Various amenity spaces serve distinct purposes, each catering to different needs and preferences. For instance, rooftops and terraces can transform into vibrant social hubs, offering residents a space to unwind while enjoying city views. These outdoor amenities are particularly valuable in urban areas where green space is limited, allowing individuals to escape from the hustle and bustle of daily life.
On the other hand, fitness and wellness facilities promote a healthy lifestyle among users. In recent years, there’s been a noticeable shift toward health-focused amenities. Gyms, yoga studios, and even meditation rooms are increasingly incorporated into buildings. Such amenities not only cater to the fitness-conscious but also foster community through group classes and workshops.
Additionally, business lounges and co-working spaces have found their place in both residential and commercial buildings. These areas are designed to cater to professionals who may need a quiet place to work or meet clients. By providing high-speed internet, comfortable seating, and essential office equipment, properties can accommodate the growing trend of remote work, thereby enhancing user satisfaction.
Key Factors Influencing Amenity Space Utilization
Several factors influence the utilization rates of amenity spaces in buildings. One significant aspect is accessibility. Spaces that are easy to access and well-maintained are more likely to be used frequently. When residents or employees feel that amenities are within reach, they are more inclined to take advantage of them regularly, be it for leisure, exercise, or work-related activities.
Another crucial factor is the design and layout of these spaces. They must cater to various activities while promoting a sense of comfort and inclusivity. A well-designed amenity area should offer flexibility, allowing users to adapt the space to their needs. This adaptability can include movable furniture, diverse seating options, or even zones designated for specific activities.
Lastly, effective communication about amenity offerings greatly impacts utilization. When users are educated and informed about what’s available, they are more likely to engage. Utilizing newsletters, community boards, and social media can ensure that everyone is aware of the amenities and any scheduled events related to those spaces.
Analyzing Amenity Space Usage with Space Analytics
Space analytics has emerged as a pivotal tool for understanding how amenity spaces are utilized in real-time. By harnessing data, building managers can gauge which amenities are popular and which might need improvements. This creates the opportunity for continuous enhancement of user experiences through data-driven decisions.
For instance, tracking foot traffic in different amenity spaces can reveal peak usage times. Armed with this information, managers can optimize maintenance schedules or schedule events to boost engagement during off-peak hours. Such insights also allow for adjusting resources and staffing needs based on demand.
Furthermore, space analytics can aid in understanding user preferences. Knowing that certain amenities receive more foot traffic or demand can direct future investments or renovations. This assures that the building meets the evolving needs of its occupants while enhancing overall satisfaction and retention.
Best Practices for Effective Amenity Management
To effectively manage amenity spaces, building managers should adopt a proactive approach. This includes regularly collecting feedback from users to understand their needs and expectations. Surveys and feedback forms can be an invaluable resource for gathering insights into what amenities are working and what might require adjustments.
Additionally, integrating technology into amenity management can enhance user experiences. For instance, implementing an app that allows residents to book spaces or check availability could significantly improve engagement. Not only does this streamline the process of utilizing amenities, but it also fosters transparency.
Moreover, ongoing maintenance and cleanliness of amenities are paramount. Spaces that are clean, well-lit, and well-maintained signal to users that their preferences and comfort are prioritized. This meticulous attention to detail contributes significantly to how satisfied users feel about their building’s amenities.
Creating Flexible Spaces for a Dynamic Workforce
In the ever-evolving landscape of work, flexibility is vital. As a result, amenity spaces must evolve to accommodate a dynamic workforce. This includes versatile setups that cater to various working styles, whether it’s collaborative teamwork or focused individual tasks.
By designing spaces that allow easy reconfiguration, managers can encourage creativity and collaboration. For example, movable desks, modular seating, and breakout areas can be adapted as needed to support different functions throughout the day. This adaptability can significantly enhance user satisfaction and productivity.
Furthermore, incorporating technology into these flexible spaces can further enrich the working experience. High-speed internet, power outlets, and audiovisual equipment should be readily available to support all forms of work. By creating an inclusive environment that caters to diverse user needs, properties can ensure a thriving, engaged community that seeks to maximize their amenity spaces.
Embracing Innovative Amenity Space Use
Understanding how amenity spaces are used doesn’t just help building managers enhance the experience for users; it also contributes to better space analytics, and effective workplace management strategies. By focusing on how these spaces serve their intended purpose, we can foster environments that promote well-being, collaboration, and productivity.
Can Automatic Door Access Improve Daily Operations for Flex Spaces?
In the evolving world of flex spaces, the question arises: can automatic door access truly lift productivity and streamline operations? Discover the transformative potential of integrating technology into everyday workflows.
Introduction to Automatic Door Access in Flex Spaces
Flex spaces, characterized by their versatility and adaptability, are becoming increasingly popular. Within this context, automatic door access systems offer a solution that marries security with convenience, allowing for a smoother flow of people.
Understanding the operation and benefits of automatic door access within these innovative environments reveals the potential for not only enhanced security but also a more personalized and user-friendly experience.
How Automatic Door Access Enhances Security
The primary feature of automatic door access systems is their ability to improve security. By employing technologies such as keycards, biometrics, or mobile access, facilities can ensure that only authorized individuals gain entry.
Automatic door access systems can be integrated with wider security operations, offering real-time monitoring and the ability to swiftly lock down areas in case of a security breach, thus significantly mitigating risk.
The customizability of access rights based on time, area, and individual roles further tightens security measures, making it a robust solution for flex spaces.
The Impact of Automatic Door Access on Efficiency and Flexibility
One of the standout benefits of automatic door access is the boost in efficiency it provides. By facilitating quick and controlled entry and exit, it significantly reduces bottlenecks and allows for fluid movement throughout the space.
Integration of Automatic Door Access with Other Technologies
Automatic door access doesn’t operate in isolation. When integrated with other smart technologies, such as environmental controls or lighting systems, it not only enhances security but also energy efficiency and user comfort.
The synergy between door access systems and IoT devices opens up possibilities for expansive data collection. This data can be leveraged to fine-tune operations, tailor services to user preferences, and predict maintenance needs.
Case Studies: Success Stories of Automatic Door Access in Flex Spaces
Several flex spaces have reported significant operational improvements after implementing automatic door access systems. One notable example is a co-working space that saw enhanced security and user satisfaction.
Another case study involves a multi-use facility that integrated automatic door access with environmental controls, resulting in energy savings and a more personalized experience for its users.
Conclusion: Leveraging Automatic Door Access for Better Operations
The integration of automatic door access systems into flex spaces demonstrably enhances security, efficiency, and user satisfaction. It stands as a testament to the importance of adopting smart technologies in modern work environments.
The Future of Flex Spaces: Embracing Automatic Door Access
In the competitive landscape of flex spaces, equipping your facility with automatic door access technology is not just a luxury but a benchmark for efficiency, security, and user satisfaction. Embracing this innovation can be the key differentiator in providing a seamless, safe, and flexible experience for all users.
What Are the Benefits of Implementing Flexible Workspace Design?
In the era of dynamic work environments, flexible workspace design stands as the cornerstone of innovation, driving not only productivity but also employee well-being.
Introduction to Flexible Workspace Design
Flexible workspace design refers to the creation of spaces that can easily adapt to various working styles and needs. This approach contrasts with traditional office layouts that often limit employee potential and creativity. By prioritizing flexibility, companies can create environments that foster collaboration, innovation, and productivity.
Enhanced Productivity and Collaboration
One of the pivotal benefits of flexible workspace design is its ability to enhance productivity and collaboration among employees. By offering a variety of workspaces, such as open areas for teamwork, quiet zones for focus, and meeting rooms for brainstorming, employees can choose environments that best suit their tasks at hand. This versatility not only boosts individual productivity but also facilitates easier and more effective collaboration.
Moreover, the dynamic nature of flexible workspaces encourages employees to move around and interact with different teams, leading to a cross-pollination of ideas and a stronger sense of community within the company.
Attraction and Retention of Top Talent
In today’s highly competitive job market, offering a flexible workspace can be a key differentiator for attracting top talent. The modern workforce values flexibility and autonomy, and a workspace that supports these desires can significantly increase a company’s appeal to prospective employees.
Additionally, by aligning the work environment with the needs and preferences of employees, companies can boost job satisfaction, which is crucial for retaining high-performing team members.
Cost Efficiency for Businesses
Adopting a flexible workspace design can also lead to significant cost savings for businesses. Traditional office spaces often waste valuable square footage on underutilized areas. In contrast, flexible workspaces make more efficient use of space, potentially reducing the amount of real estate needed. Furthermore, the ability to quickly reconfigure spaces based on current needs can decrease the need for future costly renovations.
Greater Employee Satisfaction and Well-being
Creating a workspace that prioritizes flexibility has been shown to greatly improve employee satisfaction and well-being. This approach acknowledges the diverse working styles and personal needs of employees, allowing them to achieve a better work-life balance. Spaces that offer natural light, areas for relaxation, and options for standing or sitting desks contribute to a healthier work environment, reducing stress and enhancing overall job satisfaction.
The Future of Workspaces: Adapting to Change
As we look towards the future, the importance of flexible workspace design in adapting to change cannot be overstated. The recent global shift towards remote work has only accelerated the need for workspaces that can rapidly adjust to new modes of working. Flexible workspace design is at the forefront of this evolution, ensuring businesses are equipped to face the challenges and opportunities of tomorrow.
This adaptability not only helps businesses swiftly respond to immediate changes but also positions them to thrive in the long term. Companies that invest in flexible workspace design today are setting the foundations for a resilient, innovative, and successful future.
Embracing flexible workspace design is not just about adapting to the present; it’s about being prepared for the future, ensuring businesses remain resilient, agile, and ahead of the curve.