Industrious Moves Into Old Pasadena Center
By Chava Gourarie July 25, 2019 3:42 pm
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Flex-space provider Industrious has partnered with landlord ShopCore Properties to bring its offering to Pasadena, Commercial Observer has learned.
Industrious will manage 27,000 square feet at One Colorado, a block-long, mixed-use property in Old Pasadena, according to information from Industrious. The space is scheduled to open in fall of 2020.
The management contract “allows Industrious to partner with building owners to provide Industrious’ members the same incredible level of service while sharing in the risk and reward,” said Katharine Lau, a senior director of real estate at Industrious.
The flex office provider has similar deals with landlords in Los Angeles and across the country. At Playa District, a 33-acre office campus in Playa Vista, Industrious is providing 100,000 square feet of flex office space and also managing the campus’ tenant amenities. Industrious is also managing flex space at two outdoor shopping centers in California, The Collection at UTC in La Jolla and Broadway Plaza in Walnut Creek in Northern California.
The deals are part of a strategy to add flex workspace to mixed-use centers. “There is an increasing demand for integrated live, work, play centers,” said Industrious co-founder and president Justin Stewart in a prepared statement. “One Colorado in Old Pasadena fits the bill.”
ShopCore’s David Dierte agreed that there’s a demand for those types of spaces. “We are pleased to partner with Industrious to create a vibrant and connected environment perfect for the local community,” Dierte said in the statement.
One Colorado is a 244,633-square-foot complex with a mix of retail shopping, entertainment and the soon-to-arrive Food District, a food hall featuring local Los Angeles concepts.
