Construction Begins on Venture X Project in Parsippany

PARSIPPANY, NJ—Workspace provider Venture X commenced construction earlier this month on its new 15,000-square-foot space at 8 Campus Drive here.

Venture X is a brand of the United Franchise Group of West Palm Beach, FL.

In charge of construction is Mack-Cali Realty Corp. Wayne Kasbar, managing director of Colliers International, brokered the deal at 8 Campus Drive, which is a LEED-Silver building that totals 215,265 square feet.

“We are thrilled to make progress with this new facility in Parsippany,” said Mahender Gorrai, owner of Venture X Parsippany-8 Campus Drive. “The building will fill a definite need for co-working space in a quickly growing area, as well as provide a unique work environment and networking opportunities to remote workers, freelancers and small businesses.”

In August, Venture X opened a 30,000-square-foot space at Offices at the Realm in Lewisville, TX.

The Venture X co-working franchise was founded by entrepreneur and real estate investor David Diamond, and his son Brett Diamond. David’s son, Brett, was also inspired by the co-working concept, and in 2012 the two founded Venture X in Naples, FL.

In December 2018, Ray Titus/United Franchise Group acquired the full rights to the Venture X brand. David and Brett remain owners and continue to develop and grow the Venture X brand as franchisees. Jason Anderson, after spending seven years in multiple executive positions within United Franchise Group, was named Venture X president in January 2019.

Venture X has plans to become the third largest co-working space in the world by the end of 2022. United Franchise Group is home to a variety of affiliated companies and brands, including Signarama, Fully Promoted, Experimax, Jon Smith Subs, Venture X, SuperGreen Solutions, Transworld Business Advisors, Accurate Franchising, Network Lead Exchange, and The Great Greek Mediterranean Grill. The firm has 1,600 franchisees in 80 countries.