Novel Coworking Purchases Two Buildings In Virginia And Milwaukee

May 3, 2019 — Coworking company Novel Coworking is expanding into Norfolk, its third Virginia location, with the purchase of 223 E. City Hall Ave. The Chicago-based company acquired the “City Center” building, as it’s referred to locally, on May 1 and plans to renovate it to provide modern and affordable workspace. Pre-leasing is already underway for private offices, SmartSuites™, and coworking memberships.

“We’ve seen huge interest from small businesses and entrepreneurs with our first Virginia locations in Alexandria and Richmond, and we’re excited to continue serving the region’s businesses with even more state-of-the-art workspace,” said Bill Bennett, Founder of Novel Coworking.

Built in 1987, the 55,237-square-foot building features four floors of workspace above ground floor retail, and a central location adjacent to MacArthur Square with a light rail stop right out front. By purchasing the buildings where it operates, Novel Coworking is able to invest in infrastructure improvements including fiber internet and custom-built suites for up to 500-person teams, all while keeping pricing lower than competitors. In January, the company debuted its SmartSuites™, technology-enhanced office suites featuring a combination of private offices and collaborative open space, kitchen, conference room, and technologies such as Alexa-enabled sound system and biometric keypad entry.

“We are drawn by Norfolk’s supportive environment for small business,” said Bennett. “The city’s professional services job growth in recent years makes it the perfect place for Novel Coworking to serve a strong mix of entrepreneurs and business owners.”

The coworking company is also expanding into Milwaukee with the purchase of 790 N. Milwaukee Street. The Chicago-based company acquired the Cathedral Square building on April 30 and plans to renovate it to provide modern and affordable workspace. Pre-leasing is already underway for private offices, SmartSuites™, and coworking memberships.

“With our location in Madison opening this June, we’re excited to further our offerings in Wisconsin for entrepreneurs and small business owners as well as enterprise companies,” said Bennett.

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Built in 1985, the 69,523-square-foot building will feature six floors of state-of-the-art workspace. By purchasing the buildings where it operates, Novel Coworking is able to invest in infrastructure improvements including fiber internet and custom-built suites for up to 500-person teams, all while keeping pricing lower than competitors. In January, the company debuted its SmartSuites™, technology-enhanced private suites featuring a combination of private offices and collaborative open space, kitchen, conference room, and technologies such as Alexa-enabled sound system and biometric keypad entry.

“We are drawn by Milwaukee’s supportive environment for small business,” said Bennett. “The city’s strong growth in recent years, particularly in the East Town area, makes it the perfect place for Novel Coworking to serve a diverse mix of entrepreneurs and business owners.”

Novel Coworking’s members get 24/7 building access, a vibrant coworking lounge, direct fiber internet, all utilities, an espresso bar, local beer on tap, modern furnishings, and community events included in rent. With coworking memberships starting at $129 a month, private offices starting at $400 a month, and office suites as low as $225 per employee a month, Novel Coworking provides small businesses, enterprise firms, and entrepreneurs with high-caliber amenities at an affordable price.

About Novel Coworking

Novel Coworking provides fully-furnished, technology-equipped, and affordable workspace to small businesses, entrepreneurs, and enterprise companies. Novel Coworking members have access to more than 2.5 million square feet of workspace in 32 locations including Alexandria, Boulder, Charlotte, Chicago, Cincinnati, Dallas, Denver, Houston, Indianapolis, Jacksonville, Kansas City, Madison, Milwaukee, Minneapolis, Nashville, Norfolk, Orlando, Phoenix, Pittsburgh, Richmond, San Diego, San Jose, Savannah, and Seattle. For more information, please visit novelcoworking.com.

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