Industrious will open a 40,300-square-foot co-working office next year in Palo Alto, its second attempt at maintaining a flexible workplace in Silicon Valley.
The New York-based flex workspace firm led by Jamie Hodari and Justin Stewart announced it would open the office next fall at 1881 Page Mill Road, in Stanford Research Park, the Silicon Valley Business Journal reported. A second Palo Alto office may also be in the works.
The WeWork competitor didn’t disclose whether it had signed a lease with Hudson Pacific Properties, based in Los Angeles, owner of the two-story building.
The new co-working office will have 459 seats, six private suites, desks, private “phone booths” and a gym.
“We’ve talked to a lot of large occupiers who have touch-down spots in Palo Alto and have said those are some of their busiest offices because all of their folks live out there,” Peri Demestihas, head of real estate growth for North America at Industrious, told The Business Journal.
A second Palo Alto location will also open next year, according to its website. Industrious could not confirm its location.
Industrious currently has six co-working offices in the Bay Area, including four in San Francisco, one in Concord and one in Walnut Creek.
Its future offices in Palo Alto would be the firm’s second stab at Silicon Valley.
Industrious opened a co-working office at the JPMorgan Chase Silicon Valley Financial Technology Center two years ago in Palo Alto, then closed it for an undisclosed reason.
“That was hyper successful. Unfortunately, through no fault of anyone and no malice, we ended up having to close,” Demestihas told the Business Journal.
Industrious, founded in 2012 by childhood friends Hodari and Stewart, claims more than 200 co-working offices in 65 cities worldwide, according to its website.
The firm has also scooped up national offices left behind by WeWork following that company’s bankruptcy.
Last year, a Chicago-area judge ruled that Industrious owed Stockbridge Capital Group, its former West Loop landlord, more than $2.3 million for walking out on its lease.
Industrious has also raised $522 million in capital, according to Pitchbook.
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