Industrious, Granite to Open First Newport Beach Office
- Mar 31, 2021
Industrious has partnered with Granite Properties to open its first flexible workspace in Newport Beach, Calif. The coworking firm signed a lease for 53,478 square feet across an entire floor at Granite’s 100 Bayview building.
Dubbed Industrious Newport Beach, the space is set to open in May. The deal is part of an ongoing partnership between Industrious and Granite that began in November 2020.
Granite Properties bought 100 Bayview for $125.7 million back in 2018, according to CommercialEdge data. The six-story, Class A office building is situated at 100 Bayview Circle, within the Bayview Corporate Center mixed-use campus. The building was originally constructed in 1991 and received a cosmetic renovation following Granite’s acquisition. Current tenants include Green Street Advisors, WeWork and LDC Advisors, among others.
The 346,335-square-foot property offers floorplates of 60,000 square feet and includes a 4,000-square-foot retail component. Industrious Newport Beach will comprise 104 private offices and suites, 19 conference rooms, a café, a wellness room, an outdoor lounge and a fitness center. The office has a parking ratio of 4/1,000 and other amenities include EV charging stations and a complementary bike program.
Industrious Newport Beach is near several key transit routes—freeways 55, 73 and Interstate 405 are all within 5 miles, as is John Wayne Airport and multiple public transportation points. Cycling and hiking trails are available nearby, along with a variety of shopping and dining destinations.
The new location marks Industrious’ fifth such workspace in Orange County. In California, the company has a total footprint of more than 700,000 square feet. In February, CBRE announced plans to buy a 40 percent stake in Industrious in a $200 million deal. The brokerage giant will become the largest shareholder in Industrious, which it plans to merge with Hana, CBRE’s own flexible office platform.