Industrious to Open First West Palm Beach Location

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Migrating companies have flocked to Downtown West Palm Beach, Fla. Now it’s Industrious’ turn.

The flex office provider inked a 27,000-square-foot partnership with Related Companies at Esperante Corporate Center, both companies announced. Slated to open in December, the location will feature over 87 private offices with a total of 350 seats.

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West Palm Beach attracted a slew of high-profile companies last year. Many, like Goldman Sachs, Elliot Management and Point72 Asset Management, signed deals at Related’s 360 Rosemary.  

Another trend common among new-to-market firms in Florida is sheltering in coworking offices before committing to long-term lease agreements. It’s part of the growth of flexible and short-term leasing amid pandemic uncertainty. 

The West Palm Beach outpost marks Industrious’ fourth location in Florida. The company, a competitor to WeWork, offers both flexible offices to individuals and larger chunks to established companies, such as Cisco, Lyft and Spotify.

Last year, Related bought a 50 percent stake in Esperante from New York-based RedSky Capital for an undisclosed amount. Located at 222 Lakeview Avenue, the 258,112-square-foot office tower is near the Royal Park Bridge, which leads into Palm Beach. 

Industrious’ Peri Demestihas represented the company in-house. Jon Blunk of Tower Commercial Real Estate represented Related.

Julia Echikson can be reached at jechikson@commercialobserver.com