Now that\u2019s a big flex!<\/p>\n
Coworking firm Industrious<\/a> will expand its presence at Kato International<\/a>\u2019s Tower 49 from 240,000 square feet across 16 floors to 291,600 square feet across 18 floors, with the landlord declaring the tower is now the largest flexible office location in the world.<\/p>\n SEE ALSO: DMV Industrial Pipeline Doubles Year-Over-Year Because of Data Centers<\/a><\/p>\n Industrious originally established its partnership with Kato to develop and operate the Midtown coworking space in June 2024<\/a>, after WeWork was able to get out of its 300,000-square-foot lease obligations in the building. WeWork\u2019s departure was part of its Chapter 11 bankruptcy proceedings, which were coming to an end around the time<\/a>.<\/p>\n The new deal adds 51,600 square feet and puts Industrious in charge of almost half of the 600,000-square-foot office building at 12 East 49th Street in a redevelopment initiative prompted by the landlord. The location will become Industrious\u2019 Midtown flagship.<\/p>\n \u201cThis expansion builds on the momentum already underway at Tower 49,\u201d Robert Bakst, asset manager and exclusive agent of Kato, said in a statement. \u201cBy bringing together best-in-class partners and investing at scale, we are strengthening the building\u2019s position in Midtown and creating long-term value for tenants and ownership.\u201d<\/p>\n Industrious will operate workspaces, conference rooms and convention spaces across 18 floors of the midblock building on 49th Street between Madison and Fifth avenues, including two new amenity floors, according to the landlord. In addition, the 24th floor will be \u201creimagined\u201d as a social lounge for the entire building and will include showers, a parenting suite, and event and programming spaces. Industrious\u2019 redevelopment at the property is set to be completed by the fourth quarter of this year.<\/p>\n