Industrious Opens 23K-SF Williamsburg Location
By Abigail Nehring April 8, 2024 7:22 pm
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Flexible workspace company Industrious opened its third Brooklyn location near the Williamsburg waterfront.
Industrious inked a partnership agreement for 23,000 square feet on the second and third floors of the development at 360 Wythe Avenue, according to a spokesperson for the company.
The spokesperson did not disclose the terms of the deal with owner Tidal Real Estate Partners, but said the agreement — which usually includes revenue sharing — “positions Industrious and the landlord on the same side of the table, rewarding both parties for strong performance.”
The location, which Industrious lists as 356 Wythe Avenue, opened last week and can accommodate up to 205 people.
Industrious founders Jamie Hodari and Justin Stewart opened their first coworking location in a 20,000-square-foot space in Chicago in 2012, according to the company’s website. It has grown to operate more than 200 locations in 65 cities around the globe, including two Brooklyn outposts in Prospect Heights and Crown Heights, according to the company.
“Williamsburg has rapidly evolved in recent years to become one of Brooklyn’s trendiest neighborhoods,” Industrious Senior Real Estate Manager Natalie Levine said in a statement.
That change in Williamsburg made it a priority for Industrious to continue expanding its network of locations in Brooklyn, Levine added.
The new Wythe Avenue location is one of two raw timber buildings developed in the neighborhood by Tidal, formerly Flank Architecture + Development, along with the nearby 320 Wythe Avenue. Industrious will occupy the entire office portion of the three-story 360 Wythe, which also has 19,473 square feet of retail space, according to a marketing brochure.
Chris Halloran, principal at Tidal Real Estate, said in a statement that the development is part of an office submarket that’s flush with smaller-footprint users who are looking for high-quality office space.
“It’s an exciting time for flexible office space and we’re proud to have joined forces with Industrious to create a vibrant community asset,” Halloran said.
JLL (JLL)‘s Joseph Sipala and Whitten Morris arranged the deal for Tidal. A spokesperson for the brokerage declined to comment.
Abigail Nehring can be reached at anehring@commercialobserver.com.
