European coworking brand Spaces is doubling down on Philly with an upcoming hub, spanning 48,000 square feet of space, near Rittenhouse Square.
The space at 1626 Locust St., set to open at the end of 2019, marks the second Spaces hub in Philly, after its inaugural 38,000-square-foot location went live last October inside Center City’s Hale Building.
“Our community of achievers are looking for a unique and inspiring workplace that fosters work-life integration,” said Michael Berretta, VP of network development for Belgium conglomerate IWG, which owns Spaces and flex office brand Regus. “Our expansion in Philadelphia is yet another example of the rising demand from businesses of all sizes for flexible workspaces.”
Spaces spent over a year remodeling its flagship location with assistance from the Philadelphia Historical Commission. The building, erected in 1887, was designed by Willis Hale, who also created North Philly icon Divine Lorraine. The lease was arranged by real estate firm CBRE.
Membership at Spaces starts at $350 a month for a hot-desk area, with private offices starting at $600. Perks include an on-site barista, regular networking events and access to meeting rooms across the entire Spaces and Regus network.
(Our reporting found that access to flexible and comparatively affordable office space are helping to make the case for starting a biz in Philly.)
Data from CBRE Research points to a big jump in coworking space availability in the city since 2017: More than 550,000 square feet of new coworking and incubator were added in the Center City corridor alone, by the company’s count. With the new Spaces location, Philly’s coworking footprint will top 900,000 square feet, spread between 22 different providers, including global chains such as WeWork.