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<a href="https://www.linkedin.com/in/michael-olsen-76730113?utm_source=1851franchise.com&utm_medium=article&utm_campaign=why-this-cfo-is-partnering-with-iwg-to-expand-his-offices-commercial-real-estate-investment-portfolio-2723679" target="_blank" rel="nofollow">Michael Olsen</a>, an experienced banker and long-time CFO with diversified investment firm&nbsp;<a href="https://www.globecor.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=why-this-cfo-is-partnering-with-iwg-to-expand-his-offices-commercial-real-estate-investment-portfolio-2723679" target="_blank" rel="nofollow">Globe Corporation</a>, understands that the realm of commercial real estate is ever-evolving. That is why, as businesses around the globe adopt a hybrid approach to working, Olsen recognized the exciting opportunity&nbsp;<a href="https://1851franchise.com/internationalworkplacegroup">International Workplace Group</a> (IWG) offers for forward-thinking investors looking to enter the booming flexible workspace industry. Now, with plans to open three&nbsp;<a href="https://www.iwgplc.com/en-gb?utm_source=1851franchise.com&utm_medium=article&utm_campaign=why-this-cfo-is-partnering-with-iwg-to-expand-his-offices-commercial-real-estate-investment-portfolio-2723679" target="_blank" rel="nofollow">IWG</a> locations – one Regus, one Spaces and one HQ – across Arizona, Olsen and the Globe Corp have big plans for the future.&nbsp;<h2>The Path to IWG</h2>Olsen began his career as a banker, where he serendipitously met the Getz family, the proprietors of the bank he started with. After 16 years in the banking industry, this chance encounter would culminate in Olsen joining the Globe Corp, a single-family office managing investments for the Getz family. Today, his in-depth banking background, combined with his 22-year tenure as CFO of Globe Corp, has positioned him at the nexus of the financial and real estate sectors.Globe Corp's investment approach is holistic. Half of their investments focus on real estate, ranging from industrial office buildings to retail spaces, while the other half focuses on traditional sectors, private equity, and other investments. Their latest venture is developing a new downtown for Goodyear which includes building a new city park, the city’s first parking garage, a variety of food and retail options, spec offices and more.&nbsp;So, as Olsen began surveying the current landscape looking to expand Globe Corp’s commercial real estate portfolio, he quickly noticed something: The way people are utilizing office space is changing.&nbsp;“The state of offices is in-flux as people try to sort out how much space they need with many of their employees working under hybrid schedules,” said Olsen. “It seems that hybrid work is going to have a major long-term impact on the future of traditional suburban offices, and we believe coworking spaces are a major part of that future.” Looking at Globe Corp’s existing real estate portfolio, Olsen knew there was an opportunity to tap into that demand for flexible workspaces in the state of Arizona.&nbsp;“Our buildings are generally 100% leased because they are in good suburban locations,” Olsen said. “For example, in Goodyear, we have a 24,000-square-foot space that is the epitome of the suburban office in a market where 90% of employees are forced to commute to other cities because they don’t have any other options. The worst commute in the area is going from Goodyear to downtown Phoenix and beyond to Tempe — none of those people want to commute anymore. So, we believe that having a coworking space would be a homerun for us.”&nbsp;When looking for a partner to transform some of their existing portfolio into flexible workspaces, Olsen says IWG stood out right away as a global leader in the industry.&nbsp; “We really believe in the company,” said Olsen. “We visited a nearby Spaces location and it was a beautiful build out. We are counting on IWG’s marketing skills, their construction skills, their operations skills, their network of Fortune 500 customers&nbsp;— we have high expectations. We predict that our share of revenue is going to be 140% of what we would typically get in our buildings.”&nbsp;Globe Corp has officially signed deals for three separate IWG flexible workspaces:&nbsp;<ul><li>A 24,000-square-foot&nbsp;<a href="https://www.spacesworks.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=why-this-cfo-is-partnering-with-iwg-to-expand-his-offices-commercial-real-estate-investment-portfolio-2723679" target="_blank" rel="nofollow">Spaces</a> office located on the second-floor of the firm’s innovative GEN 1 at GSQ building in Goodyear.&nbsp;</li><li>A 10,000-square-foot&nbsp;<a href="https://www.regus.com/en-us/coworking?utm_source=1851franchise.com&utm_medium=article&utm_campaign=why-this-cfo-is-partnering-with-iwg-to-expand-his-offices-commercial-real-estate-investment-portfolio-2723679" target="_blank" rel="nofollow">Regus</a> office within the timeless Scottsdale Spectrum building in downtown Scottsdale.&nbsp;</li><li>An 8,000-square-foot&nbsp;<a href="https://www.hq.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=why-this-cfo-is-partnering-with-iwg-to-expand-his-offices-commercial-real-estate-investment-portfolio-2723679" target="_blank" rel="nofollow">HQ</a> flexible workspace inside the 80,000-square-foot North 101 Corporate Center in Phoenix.&nbsp;</li></ul>So far, Olsen also noted the benefit of regular communication with the IWG team. “We have a weekly call talking with the team to discuss the standing of all three projects,” he said. “They have a deep team and they’ve all been fantastic. Everyone has a role to play and they are all experts in their field.”<h2>The IWG Advantage</h2>IWG has been operating for over three decades, with a footprint that includes 1,200 open locations in North America across four brands. As organizations increasingly adopt a hybrid approach to working, IWG offers a unique opportunity for commercial and institutional investors like Olsen to take advantage of this trend.“Flexible working isn’t working from home — it is working closer to home, eliminating the commute,” said&nbsp;<a href="https://ca.linkedin.com/in/wayne-berger-174a3a5?utm_source=1851franchise.com&utm_medium=article&utm_campaign=why-this-cfo-is-partnering-with-iwg-to-expand-his-offices-commercial-real-estate-investment-portfolio-2723679" target="_blank" rel="nofollow">Wayne Berger</a>, CEO of IWG of Americas. “Employees no longer feel the need to travel to a single, inconvenient office in the city, which is forcing employers to adapt their workspaces. As a result, organizations are adjusting their real estate portfolio accordingly, cutting ties with traditional office space in exchange for flexible workspaces. We are moving away from the 10 to 15-year lease, and building owners need to look and determine their plan for their space moving forward.”By&nbsp;<a href="https://1851franchise.com/internationalworkplacegroup/what-business-investors-and-landlords-need-to-know-about-partnering-with-iwg-2721954?utm_source=1851franchise.com&amp;utm_medium=article&amp;utm_campaign=iwg-strategic-partner-the-jacob-brothers-from-music-production-and-banking-to-real-estate-investments-2723429">partnering with IWG</a>, business investors can cater to the demand for flexible workspaces and shorter leases. IWG provides a solution for business investors, offering a partnership agreement in which they invest some capital in converting the space into a flexible workspace. IWG then presells the location, staffs the team, deploys the resources and places it on the world's largest network of flexible workspace sites.IWG is currently seeking&nbsp;<a href="https://1851franchise.com/internationalworkplacegroup/a-thriving-partnership-wanda-gibsons-journey-with-iwg-and-regus-2722949?utm_source=1851franchise.com&amp;utm_medium=article&amp;utm_campaign=iwg-strategic-partner-the-jacob-brothers-from-music-production-and-banking-to-real-estate-investments-2723429#people">investment partners</a> in markets across North America as it aims to add 1,000 locations per year on its way to 10,000 total units. The brand is targeting business investors that own either a single building or a small portfolio of buildings, have an entrepreneurial spirit and share IWG’s belief that remote work is here to stay.To learn more about Michael Olsen’s partner journey and the IWG investment opportunity, make sure to catch the upcoming&nbsp;<a href="https://events.iwgplc.com/webinarSeptember26?utm_source=1851franchise.com&utm_medium=article&utm_campaign=why-this-cfo-is-partnering-with-iwg-to-expand-his-offices-commercial-real-estate-investment-portfolio-2723679" target="_blank" rel="nofollow">1851 Franchise webinar on September 26th</a>.For more information on the exciting benefits of partnering with IWG, visit&nbsp;<a href="https://www.iwgplc.com/en-gb/develop-a-location?utm_source=1851franchise.com&utm_medium=article&utm_campaign=why-this-cfo-is-partnering-with-iwg-to-expand-his-offices-commercial-real-estate-investment-portfolio-2723679" target="_blank" rel="nofollow">iwgplc.com/develop-a-location</a>. Check out the IWG webinar series to discover the full potential of your property and hear from our partners how IWG helps you grow your business: <a href="https://events.iwgplc.com/webinars?utm_source=1851franchise.com&utm_medium=article&utm_campaign=why-this-cfo-is-partnering-with-iwg-to-expand-his-offices-commercial-real-estate-investment-portfolio-2723679" target="_blank" rel="nofollow">https://events.iwgplc.com/webinars</a>

Why This CFO Is Partnering with IWG to Expand His Office’s Commercial Real Estate Investment Portfolio

1851 Franchise

With a mission to transform the downtowns of several Arizona cities, Globe Corp CFO Michael Olsen is partnering with IWG to introduce flexible workspaces to the people of Goodyear, Scottsdale and Phoenix.

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Why This CFO Is Partnering with IWG to Expand His Office’s Commercial Real Estate Investment Portfolio

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