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Novel Coworking Debuts First Space in Minneapolis
Chicago-based workspace provider Novel Coworking opened its first site in Minneapolis. The company acquired the former Art Institutes International Minnesota building at 15 South 9th St. for $7.95 million last spring, and subsequently renovated the Downtown West property into state-of-the-art workspace for one to 100-person companies.
Built in 1916, the 78,600-square-foot LaSalle Building features skyway connectivity, a red-brick exterior, four floors of workspace, and an adjacent parking lot. The company says the strategy of acquiring buildings allows it to invest in infrastructure improvements including fiber internet and custom-built suites for 10 to 100-person teams, which helps keep rents 30-50% lower.
Novel Coworking founder Bill Bennett says, “We are excited to support Minneapolis’ entrepreneurial community with beautiful, affordable space to grow their businesses.”
The facility ranks as the largest single-building coworking space in Minnesota. Novel Coworking plans to announce a second Minneapolis location next month. Nationwide, Novel operates 22 locations, and has more than 5,000 members.
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