NY-UPFLEX

Upflex Inc. , the largest global network of workspaces, announces that it was selected by Schneider Electric to offer thousands of employees in the United States with a more flexible working experience. The partnership was sourced by Colliers, which will work with both companies to provide Upflex access for Schneider Electric’s employees.

Schneider Electric will be transitioning to a more flexible workspace option with Desk Memberships and Upflex’s convenient Hub and Spoke model. This solution will enable Schneider Electric to maintain a centralized, dedicated office space in its key markets and also grant an initial portion of its 10,000 plus U.S. employees access to Upflex’s network of 2,139 U.S. coworking spaces. Upflex and Schneider Electric are also exploring a collaboration that will allow Upflex clients the opportunity to utilize Schneider Electric’s EcoStruxure solutions that create smart offices - optimizing space use, reducing facility costs and improving the comfort and employee experience.

“For the Schneider Electric team, this partnership will not only help our employees be more flexible and productive, but will also offer well-designed and well equipped modern office spaces to host meetings, team events, and more,” said Karen McClellan, Director of Real Estate at Schneider Electric. “Colliers brought us the perfect opportunity with Upflex because they understand our commitment to sustainability, and being able to reduce the number of physical office spaces and convert to more flexible coworking solutions furthers that commitment.”

As 2021 kicks off, employees continue to work remotely as offices across the world remain closed to prevent the spread of COVID-19. However, while employers may have had their hesitations and concerns about productivity, the rapid shift to remote work caused by the pandemic has been successful according to an overwhelming majority of both employers (83%) and employees (71%) . It’s also predicted that a hybrid model of working in office and remotely will be popular post-pandemic as employers embrace employees’ continued preference for flexibility .

“Commercial real estate has been one of the most hard hit industries during the pandemic as companies and its employees rethink where they’re based. Schneider Electric choosing Upflex to outfit its workplace flexibility strategy in the U.S. speaks to this growing necessity for both flexibility and convenience,” said Christophe Garnier, Co-founder and CEO at Upflex. “Beyond office space, Upflex’s data on how team members are truly utilizing their workspaces will ensure Schneider has the opportunity to continue evolving their workplaces to the benefit of their employees.”

According to data from Colliers, U.S. office absorption (change in occupied office space) fell from 46.5 MSF in 2019 to -86.8 MSF in 2020, the lowest annual total on record to date, signifying a notable lack in tenant demand as the workforce continues to operate remotely. Additionally, roughly one in ten young adults have moved because of the pandemic, signaling a shift in the population and indicating that companies will accommodate remote employees long term.

“We’ve worked with Schneider Electric for a while and have become accustomed to both the needs of their business and employees. We knew the flexibility that Upflex offers would be a great value-add to Schneider Electric,” said Scott Moore, Vice President of Account Management, Corporate Solutions at Colliers International. “We’re excited to continue and grow our work with both Schneider Electric and Upflex to bring flexible working options to the Schneider Electric team.”

In May 2020, Upflex launched Safe Spaces™ , a program designed to help businesses of all sizes safely ramp up operations as COVID-19 restrictions and lockdowns are lifted. Coworking locations in Upflex’s vast network that are certified as “safe” agree to comply with CDC (U.S. spaces) or World Health Organization guidelines (international spaces). In addition, Safe Space™ partners practice a stringent list of health and safety practices to keep the coworking community safe, including rules on social distancing, personal hygiene, PPE, cleaning and disinfecting, incident reporting, food and beverage, and engineering controls.

To learn more about how Upflex helps companies of all sizes turn the "workplace of the future" from an abstract concept into an actionable reality, visit https://www.upflex.com/ , download the app on the Google Play or App Store, or follow the company on Twitter and Instagram.

ABOUT UPFLEX
Upflex is the world's largest flex office marketplace for teams. Its global network provides access to over 5,500 workspaces in 1,600 cities across 75 countries. We help businesses reduce real estate costs while making employees happy and flexible. Co-founded by Christophe Garnier and Ginger Dhaliwal, Upflex focuses on the needs of the changing workforce and making a positive environmental impact. Upflex closed a $4.1 million seed round from leading Silicon Valley investor Ecosystem Integrity Fund. Upflex has partnered with Trees.org to plant a tree for every area booked using its platform and has already planted 10,000 trees thanks to its first 100 clients. For more information, visit https://upflex.com/ and follow @UpflexAppGlobal .

ABOUT SCHNEIDER ELECTRIC
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On. Our mission is to be your digital partner for Sustainability and Efficiency. We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries. We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.

www.se.com

ABOUT COLLIERS
Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment.

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