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Jonathan Price – CRE & Flex Expert
Flexible workspace provider Industrious has signed three new leases in Manhattan, extending its Indy by Industrious brand into some of the city’s most competitive office submarkets.
The Commercial Observer reports the company will open coworking centers in Gramercy Park, Times Square and Columbus Circle before the end of the year, adding more than 54,000 square feet to its New York portfolio. The Indy concept is designed to offer smaller, hospitality-driven workplaces for tenants who want flexibility without committing to larger office footprints.
At 120 East 23rd Street, Industrious leased 25,000 square feet that will be built out for 182 seats and a lounge area. The company also took 17,510 square feet at 1437 Broadway, known as 9 Times Square, where it plans to accommodate around 130 seats. A third lease at 5 Columbus Circle will deliver nearly 12,000 square feet for about 100 seats.
Industrious has steadily grown its presence in New York as demand for coworking rebounds. The expansion comes amid heightened competition in the flexible office market, with providers racing to secure prime locations and capture companies seeking hybrid work solutions.
The three Manhattan sites are scheduled to open by the end of 2025, further cementing Industrious as one of the largest operators in the city’s coworking sector.
