Industrious Expands in LoHi: Meeting a Growing Demand for Flexible Workspaces
In an exciting development for Denver's coworking scene, Industrious has announced the opening of a new location in the vibrant LoHi neighborhood, set to occupy 25,000 square feet at The Lab building located on 2420 17th St., just off Platte Street. This move comes on the heels of the company’s success in the area, as its existing location has been fully occupied for the past two years, reflecting a burgeoning demand for flexible office spaces.
According to Peri Demestihas, an executive at Industrious, the new location aims to cater to a different demographic than its nearby site at 2128 W. 32nd Ave. While the current spot is oriented towards established businesses seeking private offices, the forthcoming facility is designed for smaller companies and solo entrepreneurs. This indicates a strategic pivot to meet diverse client needs, with a total of 379 dedicated "office seats" and 18 "access seats" available to all.
The Importance of Neighborhood-Centric Workspaces
Demestihas highlights an evolving trend in the United States towards more neighborhood-centric office locations, where urban activity centers provide walkable access to retail and restaurants. This model not only improves the work-life balance of employees but also fosters community connections among local residents. With the pandemic having reshaped our work environment, the demand for these mixed-use workspaces has surged, making it clear that people prefer locations that integrate professional and personal lives.
Industrious’ Unique Approach to Leasing
In a noteworthy departure from traditional leasing, Industrious has opted for a revenue-sharing agreement with the landlord for the new Platte Street location. This innovative approach can help mitigate financial risks associated with leasing vacant spaces, allowing the company to maintain flexibility in its operations. The decision also reflects the shifting landscape of commercial real estate, as more businesses adapt to new models post-pandemic.
Prospects Amid Local Competition
Denver's coworking landscape is becoming increasingly competitive, with other players like Switchyards emerging in the LoHi area. Demestihas acknowledges that this competition serves diverse customer bases, which is beneficial for showcasing the varied demand for coworking spaces. As each operator carves out a niche, it can invigorate the local economy and provide residents with more choices regarding their work environments.
Outlook for the Future
The new Industrious location is set to open doors in July, with an efficient build-out plan that capitalizes on the existing infrastructure left by the former WeWork site, which unfortunately shuttered in 2023. Interested individuals are encouraged to stay tuned for more details, as this development has the potential to redefine the coworking experience in Denver.
This expansion of Industrious signifies the resilience of coworking brands in overcoming the challenges posed by the pandemic, illustrating a promising rebound in the sector. Whether you are a part of a larger organization or a freelancer, this new space could offer the ideal setting to boost productivity and foster innovation.
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