Industrious doubles up at Gordon Property Group’s 860 Broadway

NEW YORK, April 19, 2024 – JLL announced today it has arranged a full floor expansion for global flexible workplace company, Industrious, at 860 Broadway, the redeveloped six-story office building at the heart of New York’s Silicon Alley in Midtown South.

Industrious Union Square on Broadway currently occupies 13,815 rentable square feet across the entire top floor of the building owned by Gordon Property Group, LLC. The company will expand to also occupy the entire 5th floor for a total footprint of 27,630 rentable square feet. The transaction will bring office space at 860 Broadway to full occupancy.

Tim Gordon, managing director of Gordon Property Group, said, “860 Broadway’s boutique status in a prime Manhattan neighborhood positions the property to meet the demands of today’s flexible workforce. Industrious has capitalized on those assets to expand its client base and we are delighted to facilitate their expansion in the building.”

With more than 200 locations in over 65 cities around the world, Industrious has enjoyed exponential growth as demand for flexible workspace grows. Earlier this year the company announced a new initiative to provide on-demand office spaces across its portfolio and it partnered with Instacart in 2023 to provide same-day snack, beverage and supplies for all Industrious coworking spaces in the U.S.

Industrious will build out its expanded space at 860 Broadway to provide private offices, shared workspace areas and conference rooms overlooking Union Square. It is scheduled to open in Q1 of 2025.

Doug Feinberg, Senior Director of Real Estate at Industrious, commented, “Industrious Union Square on Broadway has been a tremendous success and we look forward to further expanding in the property to bring best-in-class flexible workspace to professionals and distributed companies seeking a desirable outpost in Manhattan.”

Built in 1926 and once home to Andy Warhol’s Factory studio and artisan hangout, 860 Broadway was fully renovated by Gordon Property Group in 2019. Warhol’s original office now serves as a third-floor conference room, and the available office space in the building features wood floors, modern kitchen and pantry spaces, high ceilings and natural light from large windows overlooking Union Square.

Steps from the Union Square transit hub and the neighborhood’s numerous restaurants and shopping options, 860 Broadway is home to new media, technology and service firms, including global software company, Kaltura, cloud-based mortgage serving platform Valon, and leading architectural design firm Selldorf Architects.

JLL executive vice president Seth Hecht and associate Thomas Swartz exclusively represented 860 Broadway, one of several buildings in Gordon Property Group’s portfolio of properties in the Union Square area. Cushman & Wakefield managing directors Justin Halpern and Ed Wartels, along with Senior Associate Benjamin Bouganim represented Industrious in this latest expansion.

Said Hecht: “860 Broadway benefits from hands-on ownership committed to meeting the market in an environment where employers continue to compete for talent and seek elevated workspaces that meet their business goals. We are delighted to bring the property to full occupancy with this Industrious expansion.”

JLL is a leader in the New York tri-state commercial real estate market, with more than 2,600 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services.

For more news, videos and research resources on JLL, visit our newsroom.