Daily Digest News – May 7, 2021

Hand selected flexible workspace news from the most reliable sources to keep you ahead of the pack. We find all the latest news, so you don’t have to. Morning and afternoon updates. Stay in the know.

Here’s what you need to know today:

• Hana Opens First New York City Location
• Location Ventures To Build Coworking And Coliving Concept
• SmartScore Sets A Standard Smart Buildings

Hana Opens First New York City Location

CBRE’s coworking brand Hana has opened a new 85,000 square foot flex space at 3 World Trade Center in Lower Manhattan.

The new location takes up two floors and will be Hana’s first New York City office. Currently, the firm has four other locations in: Arlington, Virginia; Dallas, Texas; Irvine, California; and Philadelphia, Pennsylvania.

Many operators are expecting a spike in demand for flex space as companies look to reconfigure their real estate footprint for the post-pandemic workforce.

According to a survey by The Harris Poll and sponsored by Hana, over half of 1,000 U.S. office workers said they would rather work flexibly between the office and a remote location in the future, or go fully remote.

In anticipation of this growing demand, CBRE recently invested $200 million into flexible office operator Industrious, acquiring a 35% interest into the company, with plans to acquire an additional 5% stake.

After the deal closes in the second quarter, it will allow Hana locations to be operated by Industrious.

Location Ventures To Build Coworking And Coliving Concept

Developer Location Ventures is moving forward with its URBIN concept, with plans to use $56 million to build a coworking and coliving development in Miami.

The developer purchased the site for $20 million for the coworking and coliving concept that includes two buildings totaling 33,488 square feet. 

Location Ventures has 16 to 18 months to complete construction, which is expected to be part of the transformation Washington Avenue is experiencing.

The site’s three-story office building will add a 5,000 square foot wellness center, as well as 21,000 square feet of flexible office space across various floors. Both short and long-term leases will be available.

The adjacent retail building will be demolished and replaced with a six-story building featuring a food market, 60 residential units with 120 bedrooms and a roof deck that will have a pool and bar.

SmartScore Sets A Standard Smart Buildings

Commercial buildings have shifted their focus in recent years to become more environmentally-conscious and wellness-oriented.

This has led many to self-identify as a “smart building,” which could mean a myriad of things. To combat the vagueness of this term, WiredScore recently launched its SmartScore certification.

Using this model, WiredScore hopes to bring a general consensus into what should be deemed a smart building, which has been used broadly in recent years. By having a concrete definition, landlords can better communicate what their buildings feature and the investments they have made in order to create a true smart building.

“Digital transformation in real estate has moved at an accelerated pace since the global pandemic,” said Richard Fennell, head of property and asset management at JLL Australia. “Smart building aspects such as contactless technology, communication tools and data, is allowing investors and tenants greater certainty over their decision-making, as well as providing competitive advantage.”

For years, landlords were trying to identify their assets as smart, but the industry had not defined it together. For instance, a building that features an iPad at reception may consider itself a smart building, according to Eden Dwek, director of expansion at WiredScore.

WiredScore has certified over 65 million square meters of commercial office space and now has 70 buildings across seven countries that have signed up for SmartScore.

SmartScore specifically describes a smart building as one that provides optimal outcomes for users using digital technology. There are four outcomes users care about the most: inspiring user experience, a sustainable building, a cost-efficient building and a future-proof design.