Another coworking concept has been hard at work on its first Denver location.
To the list of landlords operating more than 1 million square feet of shared office space in Denver, add New York-based Industrious. The venture-backed startup has leased 30,000 square feet at 1801 California St. and aims to open in December.
Anna Levine, who heads Industrious’ expansions into new cities, said it searched for Denver office space for years. The 24th floor at 1801 California won out because of access to amenities like conference space and a fitness center.
The views didn’t hurt either.
“Looking out the window toward the Rockies is no small thing,” Levine said. “You really feel like, ‘Yes, I am proud to call this home.’”
Industrious is entering Denver at a time when some of the country’s largest coworking landlords vie for tenants against local operators like Galvanize and Industry. WeWork is considering one of Denver’s newest towers for its third space in Denver. Chicago-based Level Office has purchased 110,000 square feet off the 16th Street Mall.
Industrious opened its first office in Chicago in 2013 and operates 17 locations. Industrious estimates it will have 27 offices open by yearend, Levine said.
She said the company, headquartered in Brooklyn, is backed by $72 million in venture funding and is in the black.
In Denver, entry-level fees will be $450 for tenant access to common spaces – conference rooms, phone booths, a room for breastfeeding and childcare – as well as snack foods, internet access and unlimited printing. Private offices start at $800 for a one-person space.
The fees are a premium compared to rivals. A one-person office at WeWork’s locations in Denver costs $600. Level Office says its per-person, per-month private office fee ranges between $100 and $300.
Levine said tenants are paying for quality amenities and a personal touch. Industrious will cap its space at about 250 people, a size Levine said allows an office’s manager to greet each tenant by name.
Levine did not disclose construction costs, but said offices generally include plush finishes like marble tables and Herman Miller chairs.
“We certainly don’t skimp on the physical buildout,” she said.
Construction is now underway on the 24th floor and hard hat tours for potential customers started last week.
And Industrious has an appetite for more locations here.
“We are looking in a number of different neighborhoods in Denver, but in particular, in LoDo and LoHi, and in some suburbs outside,” Levine said.
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