Industrious announced it has entered into a partnership with Centro Ybor for a new location in Tampa, FL. Centro Ybor is advised by Third Lake Partners, LLC (“Third Lake”). Industrious and Third Lake will convert the former Centro Ybor movie theater into a 45,000-square-foot flexible workspace; it is expected to open for business Q4 2020.
“The market demand in Tampa for the Industrious product has been strong from the start,” said Jen Reilly Kelmer, Florida area manager at Industrious. “We opened in the SunTrust Financial Center at the end of 2017 and quickly had to expand to a second floor; there has been a substantial waitlist since. Industrious is so excited to be expanding our presence in the market with our new Centro Ybor location. Ybor City is also home to a budding film and creative industry which makes it the perfect place for this unique movie theater conversion.”
“As Ybor continues to redefine itself as a hub for innovation, tech, and creative services, this collaborative coworking space serves as a much needed anchor for companies flocking to Tampa,” said Mayor Jane Castor. “The expansion of Industrious to Centro Ybor just further highlights the economic competitiveness of Ybor as one of Tampa’s unique business districts. I cannot wait to tell the story of all of the innovators that will call Industrious Centro Ybor home.”
In order to turn the movie theater space into a productive workplace environment, Industrious will insert window openings throughout, among other things. Industrious has had previous success converting non-traditional locations into office space; earlier this year, it opened in a former Barneys New York at the Fashion Square mall in Scottsdale, AZ.
“Third Lake is excited about the partnership with Industrious,” said Robert Forsythe, president and COO at Third Lake. “The Centro Ybor project will be transformative for Centro Ybor and Ybor City bringing hundreds of additional professionals each day which will positively impact local businesses. We believe Ybor City can be a major cultural, artistic, and professional hub for Tampa.”
This is the first time Industrious has partnered with Third Lake; instead of a traditional lease, this arrangement allows both sides to share in the upside, and allows Industrious to operate in a more capital-efficient manner.
Industrious Centro Ybor will feature shared workplaces and private offices for teams of various sizes. Industrious currently has 90 locations across more than 45 U.S. cities, including one other location in Tampa: SunTrust Financial Center.