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      "text": "U.S. Flexible Workspace Penetration of 3.5B total office supply RSF(1) JLL High Case TAM: 22.2% JLL Base Case TAM: 13.3% Implied wework High: 5.6% Base: 3.3%",
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      "text": "~5x Projected increase in revenue by 2030 (2)",
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      "text": "25% Projected share of total flexible workspace market (1)",
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      "text": "73% of survey respondents in the United States intend to have some type of hybrid-work arrangements as part of their steady state business going forward. In EMEA, the proportion of survey respondents for whom flex space is currently less than 10% of their real estate portfolio is expected to halve in the next two years from 86% to 41%. -CBRE \"Office Occupier Sentiment Survey\", April 2022 for the United States, May 2022 for EMEA(3)",
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      "text": "Sources: CBRE, JLL, and Green Street. 1. Illustrative TAM analysis based on flexible workspace projections for U.S. only. Implied total flexible workspace SQFT based on estimated 2.5% 2020 flexible workspace penetration as percentage of total office space; Total office estimate based on Green Street estimate. 2. Assumes total office market square footage and WeWork flexible workspace market share remains constant in the projection period. Based on projected base case flexible workspace penetration. 3. For the United States and EMEA per CBRE \"Office Occupier Sentiment Survey.\"",
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