First Utah location to open as part of Series A $100 million expansion plan
SAN DIEGO, Calif. – March 14, 2019 – CommonGrounds Workplace, an enterprise-grade Workplace-as-a-Service (WaaS) company collaborating with businesses of all sizes and office asset owners in multiple U.S. cities, has signed an 84-month lease and renovated the former Orpheum Theatre in downtown Salt Lake City, Utah.
The entire three-story, 19,792 square foot historic building at 132 South State Street in downtown Salt Lake City’s On Regent Theater District is now CommonGrounds’ newest location. It is the first CommonGrounds Workplace to open in 2019 as part of the $100 million Series A funding expansion program.
A ribbon-cutting ceremony is scheduled for March 14, 2019 at 11:30 a.m.
“Salt Lake City’s vibrant, growing enterprise and entrepreneurial community makes it a natural fit for a CommonGrounds Workplace location,” said Jacob Bates, CEO for CommonGrounds, who is also a Salt Lake City native. “This building, the location and nearby amenities has made it a place where highly skilled employees want to work, which helps companies hire and retain talent.”
The multi-million dollar renovation included a near-complete demolition of the entire building’s interior and comprehensive tenant improvements, while retaining the architectural details of the 115-year-old building.
The Salt Lake City CommonGrounds will serve over 200 members, with configurations available for teams of two to 200. Amenities include six conference rooms, a main floor communal pantry and living room, and additional social gathering areas on each floor. The entire building now has enterprise-enabled network security at gigabit speeds. The proprietary CG+ app allows members to connect with a variety of services, including wireless door entry, conference room reservations, event registration and a job board, with new features coming soon.
Invita will be located on the main floor for CommonGrounds members and their guests with a barista serving traditional Italian coffee blends.
Tiffany Hughey (801-709-3832) has been hired as the local CommonGrounds workplace manager, bringing over 15 years of local real estate experience to the project. She previously worked for Alliance and Greystar in the Salt Lake Valley.
The Orpheum Theatre was originally built in 1905 and was converted into an office building in 2003, with the original façade kept intact. The historic building’s original iconic 12-foot Venus statue and the grand lobby entrance welcomed theater guests for nearly a century.
“Building owner Property Reserve Inc. played a pivotal role in our selection of this location,” said Bates, “They are the kind of owner CommonGrounds could scale locally and globally. We work in tandem with real estate owners to help them deliver a variety of real estate services that landlords are not usually able to provide to tenants. These solutions range from coworking to Workplace-as-a-Service and Headquarters-as-a-Service space options, with enterprise-grade design, finish quality, technology infrastructure, amenities and worklife programming to differentiate their property from the competition and increase retention.”
CommonGrounds was the co-designer of the space with Rapt Studio. Other project partners included St. George-based Westland Construction, TWO and Tecno-SpA.
About CommonGrounds Workplace
CommonGrounds Workplace is a Workplace-as-a-Service (WaaS) operator with flexible workplace products and services headquartered in San Diego, Calif. The company’s enterprise-grade, human-centric workplace typologies create highly productive and brandable environments for companies from start-ups to Fortune 1500 enterprises.
CommonGrounds currently has locations open in Denver, the greater Los Angeles area, Salt Lake City, San Diego and San Jose. To date, total leases and management agreements under contract comprise approximately 280,000 square feet.
CommonGrounds will expand its footprint to two million square feet across roughly 50 locations in the next 24 months. There are eight U.S. sites actively under construction slated to open in 2019, with another 35 U.S. locations under development in primary and secondary markets with openings scheduled for late 2019 and 2020.
The privately held company completed its Series A funding in January 2019 totaling $100 million. CommonGrounds was established in 2015. For more information, please visit cgworkplace.com.