Industrious Adds 89K SF In D.C. Area Across 3 Deals With Carr Properties
Coworking operator Industrious is launching a major expansion in the D.C. area with a new deal signed with Carr Properties.
Chicago-based Industrious will be opening up 89K SF of coworking space across three office buildings owned by Carr, two of which are located in D.C. and one in Bethesda.
"We’re thrilled to expand our DC network with a strategic partner like Carr Properties, who understands the needs of modern occupiers have changed," Peri Demestihas, senior director of real estate growth at Industrious, said in a statement. "It's refreshing to work with a place-making thought leader that supports our growth within the community and understands the importance of providing premium flex offerings."
The three locations are Signal House in Union Market, The Hub at 1615 L St. NW near the White House and 4500 East-West Highway in Bethesda.
The largest location is at The Hub, where the Industrious space will span more than 40K SF and feature more than 500 seats with 134 private offices.
The Bethesda location will be the second-largest, taking up almost 25K SF in a building located near Bethesda Row and just 700 feet from the Bethesda Metro station, according to the press release.
Finally, the Signal House location will be just under 24K SF. All three locations are scheduled to open by the end of this year.
Once completed, the new Carr locations will bring Industrious' total D.C. locations to 12; the provider, in which CBRE paid $200M for a 35% stake last year, operates more than 120 locations in total.
Coworking providers are seeing room for growth in the D.C. market after their share of the market collapsed in 2019. Today, coworking takes up roughly 2% of D.C.'s office stock, or 2.6M SF.
Industrious wasn't the only coworking provider that expanded in the first quarter. Venture X also signed a deal to take over a more than 36K SF former WeWork in Penn Quarter, according to data from Savills, and CBRE reported the segment as a whole took 142K SF of office space in the first quarter.
