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Industrious Office Plans New Coworking Space in Seattle
The dramatic, somewhat-yet-unfolding, saga of WeWork has a new chapter, as a former WeWork project will open under new management in Seattle’s University District.
The 32,200-square-foot-plus location, across two buildings, is Roosevelt Commons at 4311 11th Ave. WeWork claimed, in 2020, it would host 590 workspaces. Industrious Office, the new tenant, says the space will house 430 workers, according to a news release.
Industrious’ new landlord is Intercontinental Real Estate Corp., which bought the two-building Roosevelt Commons in late 2019 for $157 million.
Industrious anticipates an increase in flex- and/or co-working spaces as the Covid restrictions begin to ease. And there’s data that supports that, via real estate services company CBRE, whose data show coworking space contracted about 9 percent between Q3 2020-Q3 2021 (during the work-from-home stipulations during Covid lockdowns).
- ◦Lease
