NY-Based Flexible Workspace Provider Serendipity Labs Expands to Hollywood
Serendipity Labs, a flexible workspace operator based in Rye, N.Y., is planting a flag in Los Angeles, Commercial Observer can first report.
For its first L.A. location, the company last night signed a deal to sublease 36,000 square feet on the entire second floor from the defunct indie film company Broad Green Pictures at 959 Seward Street in Hollywood’s Media District for the remaining eight years of the lease. (Broad Green Pictures shut down its production division last August, as the Los Angeles Times reported.) Serendipity Labs opened today in the as-is Gensler-designed space, which includes a soundproofed, 25-seat screening room, editing rooms, a commercial kitchen and an event space. A company spokeswoman declined to provide the asking rent, but according to LoopNet, rents in the 2015 property range from $51 to $54 per square foot.
“For our first Los Angeles location, we are thrilled to be premiering at this spectacular site, and look forward to welcoming the Hollywood community to our growing network of workplaces across the country,” Serendipity Labs Chairman and CEO John Arenas said in a prepared statement.
Serendipity Labs, which was founded in 2011, offers workplace memberships that include full- and part-time coworking space, private offices, workstations and team rooms. It has 11 open locations, including the one in Hollywood, and 15 more slated to be up and running by the end of the year. CO broke the news when the company launched its first New York City location at 28 Liberty Street in partnership with UCommune (formerly UrWork), a Chinese coworking company, last June.
Maria Contreras-Sweet, who was slated to be the incoming owner of the Weinstein Company, had considered taking the Broad Green Pictures space, as per a January Vanity Fair piece. But that deal didn’t pan out and Weinstein Company and its affiliates filed for Chapter 11 bankruptcy protection this Monday.
Michael Geller of First Property represented Broad Green Pictures in the deal and JLL‘s Brian Niehaus and Josh Wrobel represented Serendipity Labs. Geller, Niehaus and Wrobel didn’t respond to a request for comment, and nor did Jerome Snyder, a senior partner at J.H. Snyder Company, the landlord.
Tenants in 959 Steward, a two-building approximately 250,000-square-foot Class A creative office project, include the Formosa Group, Bold Films and HGST, LoopNet indicates.