Industrious Expands in Philadelphia, Targets 50 New Locations by 2026 Amid Hybrid Work Boom
CREtech
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Coworking operator Industrious is ramping up its national expansion plans, announcing the reopening of additional space at its Two Liberty Place location in Philadelphia and a broader goal of launching 50 new locations by the end of 2026. Celebrating its 10th anniversary this month, the company marked the milestone with an event at its longest-operating space at Broad and Locust streets—just blocks from the new expansion. This growth signals a strong rebound for Industrious, which had downsized in the same building during the height of the pandemic when demand for office space sharply declined.
Industrious credits the hybrid work trend and a shift toward flexible, amenity-rich office spaces for reigniting demand. The new space at Two Liberty Place, set to open July 1, is already partially leased and is expected to be 50% full within six months. Notably, rather than signing a traditional lease, Industrious entered a management agreement with building owner Coretrust Capital Partners, allowing the two parties to split profits—a model increasingly embraced by flexible workspace providers seeking to reduce financial risk and align incentives with landlords.
The company, which began with just four locations a decade ago, has now grown to nearly 200 locations globally. Backed by CBRE, which acquired full ownership earlier this year, Industrious has ambitious plans to expand in key urban markets like New York City, Boston, and Washington, D.C.—cities ranked among the top five for coworking activity. While it faces competition from industry giants like Regus, HQ, and a newly restructured WeWork, Industrious leaders say these dynamics reflect a healthy and maturing sector. The company’s success, they argue, lies in its flexible operating model and ability to meet modern office tenants’ evolving needs, including shared amenities, short-term commitments, and cost-efficient layouts. With 500 million square feet reportedly in its development pipeline, Industrious is poised to be a major player in the post-pandemic future of office space.
