Is DTLA the Future of Office?

LOS ANGELES—East Coast co-working brand Industrious has opened its first West Coast location in Downtown Los Angeles. It is a market that has become a home to many East Coast co-working transplants, but where office vacancy rates still hover in the high double digits with large blocks of open floor plates up for grabs. According to Kait Dougherty, the national launcher at Industrious, the market is a perfect fit for co-working and the future of office.

“As a city, Los Angeles really attracted us because of the diverse industries and the ability to expand, and the submarket of Downtown Los Angeles is very dynamic. It is growing, and it is very forward-looking,” Dougherty tells GlobeSt.com. “There is a lot of potential for co-working in the Downtown area because of the industries that are represented here, and it is a market that is right in line with where we expect co-working to go.”

While the market is seeing an influx of co-working brands, not all co-working spaces are alike. Industrious melds hospitality with workspace to provide and amenity-rich experience. “We curate a very welcoming community for modern-day professionals, so we focus on high-end design, sophisticated member events and thoughtful amenities,” Dougherty explains. “We focus on creating that really hospitable environment so that our members are happy to bring clients to the office.”

The Los Angeles location opened last week. The Downtown Los Angeles location has conference rooms, relaxation rooms, concierge services and parties. While it has 81 offices available for lease, the firm says that it has already signed tenants and is getting tons of inquires from across industries. While the co-working brand attracts the typical tech start-up tenant, Dougherty says that they also get everything from professional services to creative and media companies showing interest.

The diversity of industries interested in Industrious may mean that co-working is more than a passing trend. Dougherty says that the concept is an effect of the shared economy and gives companies of any size the ability to focus on growth rather than office operations. “Companies and individuals are less concerned about having and maintaining their own spaces and they are recognizing that, through scale and shared amenities, they can have a premium space for their employees with a lot less overhead,” explains Dougherty. “These companies are focused on growing their business without having to worry about things like coffee in the café or utilities. Co-working really reflects that shared economy. Co-working came out of the young tech start-up environment; however, we see it shifting and attracting bigger industry players and more traditional companies that are also recognizing the importance of this shift and the benefits of having a shared space.”

The firm isn't limiting themselves to Downtown Los Angeles. It just finished its series B funding, and will open 12 more offices nationwide. Hollywood, Santa Monica and Culver City are at the top of the list for their next Los Angeles locations, as well as other West Coast cities.

LOS ANGELES—East Coast co-working brand Industrious has opened its first West Coast location in Downtown Los Angeles. It is a market that has become a home to many East Coast co-working transplants, but where office vacancy rates still hover in the high double digits with large blocks of open floor plates up for grabs. According to Kait Dougherty, the national launcher at Industrious, the market is a perfect fit for co-working and the future of office.

“As a city, Los Angeles really attracted us because of the diverse industries and the ability to expand, and the submarket of Downtown Los Angeles is very dynamic. It is growing, and it is very forward-looking,” Dougherty tells GlobeSt.com. “There is a lot of potential for co-working in the Downtown area because of the industries that are represented here, and it is a market that is right in line with where we expect co-working to go.”

While the market is seeing an influx of co-working brands, not all co-working spaces are alike. Industrious melds hospitality with workspace to provide and amenity-rich experience. “We curate a very welcoming community for modern-day professionals, so we focus on high-end design, sophisticated member events and thoughtful amenities,” Dougherty explains. “We focus on creating that really hospitable environment so that our members are happy to bring clients to the office.”

The Los Angeles location opened last week. The Downtown Los Angeles location has conference rooms, relaxation rooms, concierge services and parties. While it has 81 offices available for lease, the firm says that it has already signed tenants and is getting tons of inquires from across industries. While the co-working brand attracts the typical tech start-up tenant, Dougherty says that they also get everything from professional services to creative and media companies showing interest.

The diversity of industries interested in Industrious may mean that co-working is more than a passing trend. Dougherty says that the concept is an effect of the shared economy and gives companies of any size the ability to focus on growth rather than office operations. “Companies and individuals are less concerned about having and maintaining their own spaces and they are recognizing that, through scale and shared amenities, they can have a premium space for their employees with a lot less overhead,” explains Dougherty. “These companies are focused on growing their business without having to worry about things like coffee in the café or utilities. Co-working really reflects that shared economy. Co-working came out of the young tech start-up environment; however, we see it shifting and attracting bigger industry players and more traditional companies that are also recognizing the importance of this shift and the benefits of having a shared space.”

The firm isn't limiting themselves to Downtown Los Angeles. It just finished its series B funding, and will open 12 more offices nationwide. Hollywood, Santa Monica and Culver City are at the top of the list for their next Los Angeles locations, as well as other West Coast cities.