Serendipity Labs Sets Up Shop in Nashville, Denver
- Jan 27, 2017
Rye, N.Y.—Serendipity Labs Coworking just keeps growing and growing. The members-only, upscale workspace provider has recently secured exclusive development agreements with two new franchise partners, paving the way for the opening of 10 new workplaces in Nashville and Denver.
The co-working market is on fire, and it’s not just for startups and freelancers anymore. “There is a massive shift away from conventional leases under 5,000 square feet, and upscale co-working, like Serendipity Labs, that can meet enterprise standards, is winning this demand now,” John Arenas, CEO of Serendipity Labs Coworking, told Commercial Property Executive. “[Commercial real estate services firm] JLL refers to this phenomenon as the evolution of corporate co-working. It’s not about winning startups, it’s about an alternative for established companies with workplace needs for fewer than 30 people in a given city.”
Serendipity Labs inked a deal with Maximum Hospitality and Starwood Preferred Management Co. for the opening of five Labs in metropolitan Nashville. And in southeast suburban Denver, the company landed a commitment from Renascent Hospitality for five locations. All workspaces will present members with a host of usage options, including team rooms, private offices and, of course, co-working spaces. Members can also avail themselves of Serendipity Labs’ workplace reservation system, which allows them to stake a claim to space at any Serendipity Lab in the U.S.
Co-working is not precisely a new concept—the first U.S. co-working centers, San Francisco’s Hat Factory and Citizen Space, debuted in 2006, according to a report by architecture firm HOK and corporate real estate association CoreNet Global. Fast-forward a decade and co-working is very much on the map. “The workforce has become increasingly mobile and increasingly good consumers of workplace, meaning they now know they can choose where and when to work. The biggest difference, besides awareness of co-working, is that their employers are paying for it, in order to attract and retain top talent,” Arenas said.
Additionally, workspace locations have grown more diverse. Office building landlords with square footage to spare are common providers, but retailers, libraries, restaurants, banks, fitness clubs and, yes, hotels, are now getting in on the game. There’s a big crowd of commercial spaces that fit well with the co-working model. For hoteliers like Serendipity Labs’ recently announced partners, co-working accommodations at lodging facilities are, well, logical. Per the HOK/CoreNet report, “Now that faxes are practically obsolete and Wi-Fi is universal, hotel business centers aren’t nearly as busy. Some hotels are opening them to the public, hoping that visitors might also purchase food or a beverage, shop in the hotel stores or even learn how to book a hotel meeting room.”
Serendipity Labs, established in 2011, has been undergoing a growth spurt. Over the last six months, the company expanded its footprint in four metro areas. In November, Renascent Hospitality came aboard as a franchisee in Columbus, Ohio, with plans for opening four Labs. Over the summer, Triumph Development LLC joined forces with a Chicago entrepreneur on the formation of Chicagoland Development LLC, which serves as Serendipity Labs’ exclusive franchise development partner in suburban areas of Chicago. In June, the company went big in Texas. An affiliate of Worth Hotels LLC became the company’s exclusive franchise development partner for the Dallas-Fort Worth Metroplex, laying the groundwork for nine co-working sites. And office property owner and manager Cameron Management took on the role of exclusive development partner for metropolitan Houston, where the company will open 10 locations. Serendipity Labs’ national expansion strategy continues at a breakneck pace.
Images courtesy of Serendipity Labs Coworking