Beverly Hills Welcomes New Coworking Space

News Summary

Industrious is set to open a new coworking location in Beverly Hills, occupying 16,000 square feet at 150 South Rodeo Drive in fall 2025. This marks their inaugural presence in the area after its acquisition by CBRE. The space aims to adapt to changing work environments and utilizes profit-sharing agreements to mitigate financial risks. With a solid footing already established in nearby cities, this new hub is expected to become a stylish destination for professionals seeking flexible workspace solutions.

Beverly Hills Gets a New Coworking Hotspot

Exciting times are on the horizon for the vibrant city of Beverly Hills. A fresh coworking space, courtesy of the industrious team at Industrious, is set to open its doors in the fall of 2025! It’s not just any coworking setup, this one’s going big, taking up an impressive 16,000 square feet in a prime location at 150 South Rodeo Drive. That’s right folks, right in the heart of Beverly Hills, south of the famous Golden Triangle.

New Beginnings on Rodeo Drive

This will be a landmark moment for Industrious, an established coworking firm based in New York. After its recent acquisition by CBRE, which is based in Dallas, they’re venturing into Beverly Hills, marking their very first presence in this glamorous locale. The new space will sit within a stunning three-story building, constructed in 1991 and featuring a unique facade made of brown marble. With a total area of 71,800 square feet, this property offers the perfect backdrop for a modern workplace.

Smart Business Moves

Beverly Hills may be known for its glitz and glamour, but when it comes to business, Industrious is all about being smart. The company’s COO has emphasized the significance of focusing on how businesses will return to the office rather than the question of if they will return. This is a timely consideration as companies worldwide adapt to post-pandemic work environments.

Industrious is taking a unique approach in the coworking space industry. Instead of entering into traditional long-term leases—which have led competitors like WeWork down a rocky path—they’re opting for profit-sharing agreements with landlords. This innovative strategy reduces financial risks and enhances operational flexibility, allowing them to maximize their resources while minimizing liabilities. It’s a clever setup that seems to be paying off!

Setting Themselves Apart

If you’ve been keeping an eye on the coworking scene, you might know that many players are struggling. WeWork famously filed for bankruptcy, and Breather, another competitor, closed its doors in late 2020. After acquiring Breather for just $3 million back in 2021, Industrious positions itself as a stable force amidst industry turbulence, proving that they have their strategy down pat.

With over 250 coworking offices across more than 65 cities worldwide, Industrious has established a solid footprint in the market. The company already has thriving locations in nearby areas such as Santa Monica, Westwood, Century City, and West Hollywood. So, it’s safe to say they know the local flavor well and can bring a taste of that experience to their new Beverly Hills hub.

A Bright Future Ahead

Founded in 2012, and becoming a part of the CBRE family earlier this year for a whopping $400 million, Industrious is valued at around $800 million. This acquisition marks a significant shift in the coworking landscape and reinforces the belief that the industry still has much potential, even amidst recent challenges. The new location on Rodeo Drive is poised to be a beacon for professionals looking for an elegant yet functional workspace.

As the opening date approaches, the anticipation continues to build, and we can’t wait to see how this exciting new venture unfolds. Business professionals ready to embrace a new way of working are sure to find their new home in this chic Beverly Hills space, and who knows, perhaps it’ll become the hottest spot for networking in town!

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Additional Resources

• Commercial Observer: Industrious Beverly Hills Coworking Office
• Wikipedia: Coworking
• The Real Deal: Industrious Adds Coworking Office
• Google Search: Industrious coworking
• Commercial Observer: Mesa West Capital Loan
• Google Scholar: Coworking Spaces