Mindspace to Open 1st Philadelphia Coworking Location
- Feb 20, 2020
Coworking provider Mindspace has signed an agreement to open its first Philadelphia location within 42,000 square feet at the city’s iconic Wanamaker Building. The firm plans to open the shared space in the third quarter.
Mindspace will work with Rubenstein Partners, the property’s majority owner, to develop and operate the space. In addition to its flexible office component, the space will include an events area and tenant lounges. The coworking company will also be in charge of managing the building’s amenities including meeting facilities, communal areas, guest and check-in services, community programming and food and beverage services.
The deal with Mindspace comes shortly after owners Rubenstein and Amerimar Enterprises completed a multi-phased improvement plan of the historic, 1.4 million-square-foot building. Renovations included significant updates to the property’s lobby and the creation of new amenity spaces on the property’s eight and ninth floors.
Prior to inking the Philadelphia deal, Mindspace’s U.S. operations were limited to two locations—one in San Francisco, one in Washington—which opened in mid-2018. The firm’s global footprint totals 31 branches in 16 cities in Europe and Israel.
Shift in coworking model
The agreement between Mindspace and Rubenstein is another sign of a shift in the definition of coworking. JLL expects the sector to see more and more shared space providers partnering with landlords, as well as building owners pursuing their own ventures.
This is not Mindspace’s first foray into this kind of management agreement. The firm has recently signed four similar deals with landlords in Europe and Israel.