Industrious Takes Over Downtown Atlanta WeWork Location
One coworking giant is taking over some of the Downtown Atlanta space vacated by another.
Industrious has taken over the operations of 20K SF of WeWork's former footprint at 101 Marietta St., formerly Centennial Tower, the Atlanta Business Chronicle reported. WeWork was part of a contraction of coworking operators in Atlanta last year when it shuttered its 80K SF location at the 36-story, 670K SF tower.
The space at 101 Marietta St., which is owned by The Dilweg Cos., gives Industrious seven locations in Metro Atlanta, including at Ponce City Market, Monarch Tower in Buckhead and 7000 Central Park in Central Perimeter.
While WeWork grew by signing traditional leases with landlords, Industrious typically enters management agreements with landlords, sharing in the risk and upside. Industrious co-founder Jamie Hodari confirmed with Bisnow that it signed a management contract with Dilweg at 101 Marietta St.
“Centennial Tower is a flagship asset and for us, it’s exactly where we wanted to be," Industrious Senior Director of Real Estate Peri Demestihas told the ABC. "As we expand our footprint across the city, it's vital that we have locations in each submarket to provide members with as much flexibility and ease of access between our spaces as possible."
This isn't the first former WeWork location taken over by Industrious. The coworking giant gobbled up five former WeWork locations in New York, Washington, D.C., Los Angeles and Chicago, Bisnow previously reported. The Brooklyn-born coworking company expected to take over upward of 40 coworking spaces nationwide over the next year.