In the commercial real estate sector, Vallist is taking new steps to address the persistent issue of vacant office space. In a recent interview, Alexander Passler, co-founder and CEO of the flexible workspace operator, discussed the company’s approach to solving occupancy problems for both landlords and large corporate tenants.
Alexander Passler brings more than 30 years of experience in commercial real estate, having worked in sales and leadership roles at major flexible workspace operators. His background includes opening over 120 buildings for WeWork across Asia and managing expansion in the US, Canada, and Latin America.
Since 2021, Vallist has operated in the flexible workspace sector, focusing on premium white-label partnerships that fit with landlords’ broader leasing strategies.
Passler identified vacant office space as a major challenge in today’s market, impacting both traditional landlords and large corporate occupiers.
“You have large occupiers today who’ll have 200,000 square feet in a big office tower, and now post-COVID, half of their workforce are working remotely, and they’ve consolidated their team, and they basically have 50% of their office space vacant.”
This situation reduces rental income for property owners and leaves corporate tenants with underutilized lease obligations that drain resources.
Passler outlined Vallist’s strategy for tackling key commercial real estate challenges through flexible partnership models. By prioritizing speed to market, Vallist can fill buildings in a matter of weeks—far faster than traditional leasing timelines that often extend for months due to lengthy tenant negotiations and build-out periods.
The company’s flexible arrangements allow landlords to monetize underused space while retaining the option to reclaim it when needed. Finally, Vallist focuses on revenue enhancement through management agreements that let the firm operate and fill properties without holding tenure, enabling higher rates and greater efficiency for landlord partners.
Passler referenced a recent project with a corporate tenant who had excess space. “We can design, develop a product in their space which they are not using, to be able to market it to external parties and offer our co-working and private office services to outside tenants.”
This arrangement lets the corporate tenant monetize unused space while retaining the ability to reclaim it as business needs evolve, benefiting all parties.
Vallist’s solutions use advanced reporting and analytics platforms to provide transparency to landlord partners. “Our landlord partners have live reporting and live visibility into everything we do. They get a huge amount of data from our business, how companies use space, what they’re using, and how frequently they’re using it.”
Passler offered advice to others in the commercial real estate sector. “Really understanding the local market and developing a product which is tailored to that market. There is no one size fits all in the flexible workspace sector.”
He stressed the value of working with landlords rather than competing against them, and emphasized that successful flexible workspace solutions require deep market knowledge and tailored strategies.
Looking ahead, Passler said Vallist plans to expand its geographic reach while focusing on market depth and strong partner relationships. “We look at several markets at a time, but when we go into a new market, we go in there with conviction, and we want to make sure we can scale within that pretty significantly and rapidly.”
