New Partnership With Industrious Gives Nuveen Tenants 150 Office Building Options
Nuveen office tenants can now work from other Nuveen offices or Industrious coworking spaces nationwide in an expansion of the two firms' partnership, Bisnow has learned.
Nuveen tenants can reserve workspaces online at about 150 locations within Nuveen and Industrious' portfolios, Industrious Tenant Experience Senior Director Hopi Stradling told Bisnow.
Initially, spaces available to book will be meeting rooms, then general workspaces will become available as the rollout continues, Stradling said. Industrious manages the shared spaces in Nuveen's office portfolio, giving tenants access to amenities and programming. About 30% of Nuveen's 63 buildings have shared space, and the new program will begin by allowing reservations in those properties. The rest of Nuveen's portfolio are smaller assets that lack common areas, Stradling said.
If Nuveen and Industrious expand their portfolios, those spaces will be added to the platform in real time, Stradling said. Industrious' footprint spans over 200 locations globally, with its U.S. footprint accounting for 165 of those spaces across 65 cities.
The two first teamed up last January when Nuveen brought on the coworking company to pilot managing the shared spaces in some of its office properties, including its Manhattan office tower.
Industrious entered another developer relationship last year. In August, an Ikea affiliate, Ingka Centres, partnered with the company as it entered the U.S. coworking market. Its first location was a 46K SF Industrious space in a San Francisco mall that Ingka Centres acquired for $198M in 2020.
Demand for hybrid work environments has only increased since the onset of the pandemic. A survey conducted by Gallup found that over half of employees prefer a hybrid schedule, which is reflected in the 52% of work locations that are hybrid-friendly.
CORRECTION, MARCH 8, 1 P.M. ET: The story has been updated to clarify the two facets of the partnership between Nuveen and Industrious, the management of shared spaces and the new hybrid work program.
