Industrious signs deal for 30K sf next to Aventura Mall

First lease will be at 1111 Brickell

TRD MIAMI /
Oct.October 01, 2019 10:30 AM
Rendering of Esplanade at Aventura and Industrious CEO Jamie Hodari (Credit: Seritage and Industrious)

Rendering of Esplanade at Aventura and Industrious CEO Jamie Hodari (Credit: Seritage and Industrious)

Industrious, a co-working provider, signed a deal for its second location in South Florida.

The firm will take nearly 30,000 square feet at Esplanade at Aventura, a mixed-use project under construction next to Aventura Mall. Seritage Growth Properties is developing the retail, restaurant and entertainment project.

The lease is one of five between Industrious and Seritage, including another in La Jolla, California, according to a press release. At Esplanade at Aventura, the co-working space provider will have shared workspaces, private offices, and a cafe. It’s expected to open in the second quarter of next year.

Esplanade at Aventura, designed by SB Architects, the Rockwell Group and Wet Design, will have tenants that include The Loyal by Michelin-starred chef John Fraser; Jarana, by Peruvian chef Gaston Acurio; Joey Restaurant; and Pinstripes, an entertainment concept with bowling and bocce.

The site, at 19505 Biscayne Boulevard, was previously home to a Sears store. In 2017, Seritage purchased 235 Sears and Kmart stores from Sears Holdings Corp. Under terms of the sale, Seritage recaptured the property, which allowed the real estate investment trust to develop the site. Seritage also settled a lawsuit in 2016 that it filed against the owners of Aventura Mall to stop the nearby shopping center’s expansion plans.

Industrious has over 85 locations in more than 45 cities in the U.S. Members have included Compass, Heineken, Humana and Zillow.

In March, Industrious announced it would take 45,000 square feet at 1111 Brickell, owned by a joint venture between KKR and Parkway Properties. The lease marked the first for Industrious in South Florida.

Co-working competitors in South Florida include Büro, Pipeline, Spaces and WeWork. On Tuesday, WeWork said it was pulling its public offering amid mounting scrutiny.


Related Articles

arrow_forward_ios
From left: BGI Capital’s Kenneth A. Baboun and Robert Barthelmess, 299 Alhambra Circle, Local Ventures' Rishi Kapoor (Credit: Google Maps, BGI)

Developer snags $12M loan for co-working project in Coral Gables

Easton & Associates Vice President Elliot LaBreche (Credit: iStock)

The doctors will see you now: Co-working medical office space operator plans major expansion

Rendering of Urbin Coconut Grove and Rishi Kapoor

Co-living venture Urbin expanding to Miami Beach

Paseo de la Riviera and Industrious CEO Jamie Hodari  

Industrious to open at Paseo de la Riviera in Coral Gables

Daily Digest Miami

Forever 21’s Lincoln Road store among planned closures, downtown Miami office building hits the market: Daily digest

Denise Rubin with the Aventura skyline

Berkshire Hathaway’s Denise Rubin jumps to Coldwell Banker

Turnberry Village North Tower

Lawsuit accuses Aventura condo board of election violations

Richard Branson (Credit: Getty Images and iStock)

Here’s where Virgin Trains is proposing a mixed-use station in Boca Raton

arrow_forward_ios