Industrious is again expanding its flex office footprint in Southern California, further establishing its market share in Los Angeles while coworking rival WeWork recedes amid bankruptcy.
Landlord Watt Companies announced that the shared workspace provider signed a 10-year lease for a full floor spanning 19,000 square feet at the north tower of Watt Plaza in Century City, the top office market in the region. The space is set to open at 1875 Century Park East in the fourth quarter this year after tenant renovations are completed.
The new lease adds to the nearly 40,000 square feet across two floors that Industrious leases at 1925 Century Park East at Watt Plaza.
“Following the remarkable demand for our original Century City location, it became evident that we had room to introduce another location into the mix,” Industrious’ Natalie Levine said in a statement. “The demand for premium coworking spaces in the Los Angeles area continues to grow, and we are thrilled to meet this demand with our newest addition and several others in 2024.”
It also adds to the other two new locations Industrious announced earlier this month totaling about 44,000 square feet on L.A.’s Westside with landlord Douglas Emmett. The company has other locations throughout Greater L.A., too, including in Playa Vista, Hollywood, West Hollywood and in Downtown L.A.
In 2020, Watt renovated the two 23-story towers at Watt Plaza, which span 900,000 square feet. The company also added a conference center, a bar for events, retail space and a courtyard.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
Robert Khodadadian has long had a simple philosophy about selling real estate. The way he sees it, there are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller at the right time.
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