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Co-working company Industrious acquires rival Assemble, doubling Chicago footprint
The New York-based company now has 6 city locations and plans to expand further
New York-based co-working firm Industrious has acquired rival Assemble, instantly doubling its Chicago office locations with eyes on further expansion in the city.
Assemble will hand off its members to Industrious, which will rebrand the Assemble spaces as its own, according to the Chicago Tribune.
Assemble’s leaders said they’re turning away from co-working management so they can focus on their development and construction company, Synergy Construction Group.
Industrious opened its first office in River North in 2013, and it’s since expanded to Evanston and Fulton Market, part of its presence in 33 American cities. Its acquisition of Assemble expands its footprint with new offices in Gold Coast, Wicker Park and the West Loop.
Industrious will try to add new locations in the Loop and Lincoln Park in an effort to catch up to competitors like industry leader WeWork, the company’s CEO told the Tribune.
WeWork last month announced it would open a pair of new locations in River North totalling more than 200,000 square feet, its seventh and eighth Chicago outposts.
A report last month by Colliers International said the city has more than tripled its stable of co-working space since 2014, hitting 2.6 million square feet across 99 locations. [Chicago Tribune] — Alex Nitkin