New York-based coworking firm Industrious is set to deepen its presence in Nashville by establishing a location within the upcoming Pinnacle Tower at Nashville Yards.
The company has inked a deal for 30,000 square feet on the 14th floor of the 35-story building at 21 Platform Way South, marking its fourth Nashville outpost since entering the market in 2016, the Nashville Business Journal reported.
The $1 billion Nashville Yards project, led by Southwest Value Partners and Anschutz Entertainment Group, is a 19-acre development with office, retail, entertainment, hospitality and residential towers. Pinnacle Tower is expected to open in March with a music venue
Industrious will join a roster of influential tenants such as Pinnacle Financial Partners, Bass Berry & Sims and PricewaterhouseCoopers.
The co-working location is expected to open next summer, adding to Industrious’ other Nashville spaces, in Gulch Crossing, downtown’s Philips Plaza and Germantown’s Neuhoff District. The move comes as the city is experiencing rapid growth and rising demand for flexible office space.
Industrious’ expansion “matches the rapid expansion of Nashville,” said Peri Demestihas, head of real estate growth for Industrious. “Three to four years ago, we only had two locations. We are adding inventory, but in two completely separate places. Not only can they exist side-by-side, but they complement each other. You want to have coverage in the right areas for your members.”
Nashville Yards continues to attract significant interest from various industries. Recent additions include a wine bar and two hat brands from Salt Lake City — Gigi Pip and Two Roads Hat Company — which will occupy 2,000 square feet on the ground floor of residential tower The Everett.
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Earlier this year, developer Tony Giarratana landed $232 million in construction financing from Bank OZK and Related Fund Management to build the Paramount, a 60-story condo and apartment tower at 1010 Church Street, a couple of blocks away from Nashville Yards.
— Andrew Terrell