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The proliferation of coworking continues in Atlanta, this time with one of Atlanta's biggest players nailing down another location.
Industrious has inked a 19K SF lease at Monarch Tower, the 527K SF building in Buckhead owned by Highwoods Properties. The firm is taking space on the 22nd floor and will open by the second quarter, Industrious announced.
This is Industrious' latest Atlanta location, and it is one of the biggest competitors to the growing presence of WeWork in Atlanta's coworking scene. In 2017, the company jumped into its first suburban coworking location in Central Perimeter. Industrious is now expanding that location by an additional 17,400 SF.
Thus far, more than 2M SF of office space in all of Atlanta is being used by coworking operators. WeWork announced in October that it was scouting Central Perimeter and North Fulton for its first suburban Atlanta locations.
While Industrious was not mentioned by name, Highwoods Properties President Ted Klinck recently told stock analysts that its Monach Tower was part of a portfolio of Buckhead office towers — including One and Two Alliance — that has experienced strong leasing momentum.
“[We] are now stabilized at One and Two Alliance and Monarch Tower,” Klinck said. “We're heavily focused on leasing up the remaining approximately 100K SF in Monarch Plaza, where we're seeing significant interest.”
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