Industrious' First Suburban Co-Working Location Will Be In Atlanta
Industrious is venturing out into Atlanta's suburbs, the first non-urban location for the fast-growing co-working provider.
New York-based Industrious inked a 28K SF lease at 7000 Central Park in Sandy Springs for 12 years. The space is designed to house up to 200 members.
This is the company's fifth Atlanta location. CEO and co-founder Jamie Hodari said there is good reason Industrious selected Atlanta as the first suburban market.
“For many years now, Atlanta has been our best market,” Hodari said. “If there is a city where we're going to try to push the size of a location, or if we're going to experiment, we're going to experiment in Atlanta. It's not a coincidence that Atlanta was the first."
Hodari previously told Bisnow that the company intended to push suburban growth in the metro area, including markets like Cumberland/Galleria and Decatur.
Industrious made its Atlanta debut in 2015 at the Silhouette Building in Midtown. It has since expanded into other locations, such as the vaunted Ponce City Market redevelopment in Midtown and the former Aaron's headquarters building at 309 East Paces Ferry in Buckhead Village. The company’s West Midtown location is set to open in the next week.
Co-working has become one of the fastest-growing office products in Atlanta in recent years. There are big names, including WeWork, Roam and Regus' Spaces co-working concept, as well as local players such as Atlanta Tech Village, Switchyards in Downtown Atlanta and Tech Square Labs. There are also a smattering of local co-working operators throughout the metro area.
In all, Colliers International estimates some 1.2M SF in Atlanta is being used by co-working operators.
Hodari said 7000 Central Park — the 424K SF tower owned by CBRE Global Investors in Central Perimeter — is a centralized location for many of Industrious' clients, and allows some to work closer to home.
“The ability to base their business up there or have an additional place to work from close to their home is going to be a valuable proposition for them,” he said.
The tower also is situated amid Cox Enterprises Inc.'s headquarters campus. Most recently CBRE Global Investors inked a deal to expand Cox's auto auction division, Manheim Inc., into nearly 56K SF at 7000 Central Park, making the company the landlord's largest tenant there.
