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Premium flexible workspace provider to take two floors in iconic Philadelphia building in partnership with Coretrust Capital Partners
NEW YORK, NY (May, 2019) – Industrious, the largest premium flexible workspace provider in the U.S., today announced a new Philadelphia location at Two Liberty Place. As a partnership with building owner Coretrust Capital Partners, Industrious will take two full floors, totaling 55,000 square-feet.
“Two Liberty Place is an iconic part of the Philadelphia skyline and we are thrilled to be able to provide our members an elevated workplace experience in a trophy asset like this,” said Joyce Oh, Mid-Atlantic area manager, Industrious. “Industrious first entered Philadelphia in 2015 and we have continued to witness strong demand for our product. As we were looking to expand across the market, our existing relationship with Coretrust opened the door to one of the city’s top Class A buildings.”
Industrious Two Liberty Place will offer shared workplaces for teams of various sizes as well as large-team suites, dedicated private offices that are customizable for teams of 20-100. It is expected to be open for business Q1 2020.
“Industrious is the ideal partner for us at Two Liberty Place as it is the premier provider of flexible workspace,” said Spike Whitney, Vice President, Coretrust Capital Partners.
Coretrust acquired Two Liberty Place in late-2016 via its Coretrust Value Fund I. The firm has since undertaken a massive capital improvement program to restore materials and design details by original project architect Helmut Jahn and to upgrade the building entries, lobbies, elevators and mechanical systems. With the Industrious partnership, Two Liberty Place will be over 90% occupied.
This is the second Philadelphia location for Industrious; its existing location, Industrious Avenue of the Arts, is in Center City. This is also the second time Industrious has partnered with Coretrust Capital Partners; earlier this year the two announced Industrious Los Angeles – Financial District at FourFortyFour South Flower.
Industrious is known for its professional atmosphere, thoughtfully-designed spaces intended to increase productivity, and hospitality-driven, member-centric approach. Across the country, members include large, well-known companies such as Pfizer, Hyatt, Airbus, Pandora, Lyft, Pinterest, and more. Industrious currently has over 75 locations across more than 40 U.S. cities.
About Industrious
Industrious is the largest premium flexible workspace provider in the U.S. with over 75 locations in more than 40 U.S. cities. Its Workplace Experience platform, which pairs thoughtfully-designed spaces with hospitality-driven services and amenities, has reshaped the concept of coworking into a scalable solution for companies of all sizes and stages. Since its founding in 2013, Industrious has helped thousands of companies scale their businesses while maintaining the highest NPS scores in the industry. For more information, visit www.industriousoffice.com.
About Coretrust Capital Partners
Coretrust Capital Partners, LLC (“Coretrust”) is a Los Angeles-based private real estate operating company formed in 2014 by three original partners of Thomas Properties Group, Inc. (NYSE: TPGI). Coretrust, a Registered Investment Advisor, provides fiduciary investment management services to institutional clients in both co-investment and separate account vehicles targeting opportunistic, value-add, core plus and core strategies in the office sector. Coretrust targets acquisitions in major urban centers located in the West Coast, Southwest and the Mid-Atlantic regions. For more information visit www.coretrustcapital.com
