NEW YORK--(BUSINESS WIRE)--Industrious, the largest premium flexible workspace provider in the U.S., today announced that it has acquired TechSpace, a national provider of modern, scalable, full-service office space with locations in California, Texas, Virginia, and New York. The acquisition adds seven new locations to the Industrious portfolio.
“Acquiring TechSpace was a strategic move for Industrious,” said Jamie Hodari, CEO and co- founder of Industrious. “It’s a high-performing flexible workspace provider that allows us to quickly and strategically expand our portfolio in key markets. Consolidation is going to accelerate as our industry matures and Industrious will continue to evaluate additional opportunities as they arise.”
Having successfully grown to 65 locations across 40 U.S. cities, and counting, Industrious has the economies of scale to effectively and efficiently operate flexible workspaces across the country. Acquiring smaller providers that have reached their operational capacity allows the company to continue expanding its national presence at an accelerated rate.
“Since its inception over 20 years ago, TechSpace has always been a member-centric office space provider,” said Vic Memenas, CEO of TechSpace. “When we started evaluating potential buyers of TechSpace, Industrious immediately stood out. Our shared values and alignment on providing a quality workplace experience made us feel comfortable that our members would be in good hands as we enter this next phase.”
Industrious memberships are all-encompassing and grant the option to work out of any Industrious location across the country. With this addition, the Industrious national network expands into two new cities as well as grows its footprint in five existing markets. The locations, which will continue to operate as TechSpace, are in: Aliso Viejo, CA; Costa Mesa, CA; Los Angeles, CA; San Francisco, CA; Austin, TX; Arlington, VA; and New York, NY.
This is the second coworking acquisition for Industrious; the company previously acquired Chicago-based coworking company Assemble, with three locations, in August 2018.
About Industrious
Industrious is the largest premium flexible workspace provider in the U.S. with over 65 locations in more than 40 U.S. cities. Its Workplace Experience platform, which pairs thoughtfully-designed spaces with hospitality-driven services and amenities, has reshaped the concept of coworking into a scalable solution for companies of all sizes and stages. Since its founding in 2013, Industrious has helped thousands of companies scale their businesses while maintaining the highest NPS scores in the industry. For more information, visit www.industriousoffice.com.
