Industrious has signed a lease for 19,000 square feet of offices in Century City, weeks after the coworking company expanded its offices in Westwood and Santa Monica.
The New York-based flex workspace firm led by Jamie Hodari and Justin Stewart signed a 10-year lease for the offices in the North Tower of Watt Plaza at 1875 Century Park East, Commercial Property Executive reported.
Financial terms of the lease with Santa Monica-based Watt Companies, owner of the 23-story, 476,100-square-foot building and twin tower next door, were not disclosed.
Industrious is now listing coworking space from $399 a month, according to its website.
The deal comes after Industrious opened a 20,800-square-foot office at 1100 Glendon Avenue in Westwood Village, with plans to open a 23,300-square-foot office in December at 808 Wilshire Boulevard in Santa Monica.
The Industrious lease in Century City expands on 40,000 square-feet of coworking offices the firm occupies at the South Tower of Watt Plaza at 1925 Century Park East.
Industrious also has offices in Playa Vista,, Hollywood, West Hollywood and Downtown L.A. The firm has also scooped up locations left behind by WeWork across the nation following that company’s bankruptcy. Industrious claims more than 200 coworking offices in 65 cities worldwide.
Thirteen months ago, a Chicago-area judge ruled that Industrious owed Stockbridge Capital Group, its former West Loop landlord, more than $2.3 million for walking out on its lease.
In 2022, CBRE announced it was investing another $100 million in Industrious to help speed up international expansion. A year earlier, the Dallas-based firm acquired a 35 percent stake with the cash purchase of about $200 million in primary and secondary shares.
Early this year, Industrious partnered with PGIM Real Estate and HPI Real Estate and Investment Services to open a 20,600-square-foot coworking office in Austin, its fourth in the Texas capital.
As of January, Los Angeles had 4.3 million square feet of coworking office space, making it the second largest flex office footprint in the U.S., according to a CommercialEdge market update.
— Dana Bartholomew
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