The Real Deal Los Angeles

Co-working firm Industrious expands into Glendale in deal with Granite Properties

The firm has inked a deal for 24K sf at Granite Properties' 500@TheBrand
By Gregory Cornfield | November 26, 2018 04:00PM

From left: Jason Purvis, Senior Managing Director, Granite Properties and Katharine Lau, senior director of real estate at Industrious

Co-working firm Industrious, which already has three locations in Los Angeles, is expanding into Glendale.

The company has inked a deal for 24,000 square feet at Granite Properties’ office tower, 500@TheBrand in Glendale.

The space will be located on the 20th and 21st floors of the building at 500 N. Brand Boulevard. The space is slated to open in June 2019, according to a joint release.

Granite’s @TheBrand location includes two adjacent office buildings — the 431,800-square-foot structure at 500 N. Brand Boulevard, and a 307,400-square-foot building at 550 N. Brand Boulevard. The two buildings are connected by outdoor space that was recently completed.

The location will be Industrious’ eighth in California. It has 55 nationwide.

In L.A., Industrious has partnered with other firms like EQ and Rios Clementi Hale Studio to bring up to 140,000 square feet of co-working space to the Howard Hughes Center campus.

Glendale, however, was home to a big non-co-working office deal this month, when Beacon Capital Partners paid $160 million for a 22-story building on Brand Boulevard. Glendale also saw one of the county’s top office investments in October when Harbor Associates and Belay Investment Group acquired the Glendale Gateway at 700 N. Central Avenue, for $28 million.

Los Angeles is expected to see even more co-working space, including another 212,000-square-foot site soon, as WeWork is reportedly considering the biggest lease near South Park.