US: American workspace provider Industrious has announced plans for its first Canadian property, in Toronto.
The Industrious location will takeover the former WeWork space at 33 Bloor Street East in Toronto’s Yorkville neighbourhood.
Sam Segal, director of real estate at Industrious, said: “This new location allows us to plant our first flag in Toronto, one of the top performing office markets in all of North America, and a market our existing network of enterprise members has been asking us to expand into for years.”
“The building is right in the heart of a highly amenitized, mixed-use area comprising significant retail and residential development, with direct connectivity to Toronto’s subway system,” said Segal. “We’re confident this location will provide an accessible and amenity rich experience for our members.”
The new location will be called Industrious Yonge & Bloor, and will offer more than 450 seats across 36,000 square feet of office space.
Industrious locations typically feature rentable office spaces for both individuals and teams, as well as shared common areas such as meeting rooms and phone booths.
“Although we had interest from several providers, Industrious’ operating track record was best suited to provide quality flexible workspace that will be beneficial for the market and for our existing tenants,” said John Shields, vice president of leasing at Epic Investment Services, the developer of 33 Bloor Street East.
Industrious currently operates more than 100 locations across the US and the UK, and recently acquired two workspace providers in Asia and Europe, adding more than 350,000 square feet to its portfolio. The company is aiming to double its international presence by the end of the year through a mix of takeovers and organic growth.
