Industrious Plants Flag in Burlingame With 220 Park Offices

CBRE’s Industrious co-working outfit is growing its Bay Area footprint with an expansion in Burlingame.

The Los Angeles-based co-working unit of the giant brokerage has leased approximately 19,800 square feet of offices on the fourth floor of 220 Park. The $180 million development at 220 Park Road recently transformed a former post office into high-end offices in the heart of Burlingame, the San Francisco Business Times reported.

Dostart Development Company and Sares Regis partnered to build 220 Park. Industrious’ lease will take up about two-thirds of the building’s fourth floor, making the co-working company the largest tenant the developers have landed so far. Last year, private equity firm SkyKnight Capital leased about 10,000 square feet at the property. Dostart and Sares Regis could also be solidifying another lease with another firm, sources familiar with negotiations told the Business Times.

The 220 Park building, located near the Burlingame Caltrain station, is also expected to include a restaurant from a Michelin-starred hospitality group. In total, the building has about 168,000 square feet of offices and 17,000 square feet of retail.

Industrious views Burlingame as a market ripe for activity between San Francisco and Palo Alto as professionals across the Peninsula who want to work closer to home could have a new place to set up camp–a hybrid model somewhere between work-from-home and return-to-office.

“There’s a lot of coworking in San Francisco and a fair amount in Palo Alto, but nothing in Burlingame,” Peri Demestihas, head of real estate for Industrious, told the Business Times. “It’s a pocket filled with folks who say, ‘I don’t want to go into San Francisco or Palo Alto. I want to live and work here.’”

While growing tech firms relied on co-working spaces like WeWork offices to expand quickly, they’ve since shifted more to hybrid work in their own offices. The artificial intelligence boom in the Bay Area at large is a prime example of the trend, as companies from OpenAI and Anthropic to Glean and Snowflake search for or build AI-focused office space across the Peninsula and South and East Bay.

In addition to the new Industrious location in Burlingame, the company is growing in the South Bay with two locations in development near Stanford.

In total, businesses and research and development companies sought 4.3 million square feet of office space in the Peninsula, according to CBRE data cited by the Business Times. That marks a 57 percent jump from the second quarter. Leasing activity, meanwhile, was up 76 percent. CBRE took full ownership of Industrious earlier this year in an acquisition valuing the company at $800 million.

— Chris Malone Méndez