Natalie Kostelni Reporter Philadelphia Business Journal
Corporate Suites, a coworking operator based in New York, has signed a 15-year lease on 24,000 square feet at 123 S. Broad St. in Center City, making its first foray into Philadelphia.
The firm will occupy the 15th floor of the office building and expects to be in operation by September.
Though co-working struggled during the pandemic with some operators such as WeWork closing locations and others, such as Regus, filing Chapter 11 bankruptcy protection on some spaces it leased, there is a belief coworking will regain some of its popularity as people seek alternatives to working from home as the pandemic dissipates.
SSH Real Estate, which owns 123 S. Broad, felt the building was lacking in not having a coworking tenant and had sought Corporate Suites as a tenant.
“The deal was in the works early last year but was delayed because of the coronavirus,” said Pete Soens, a partner at SSH Real Estate.
When talks picked back up, it became apparent to Soens that certain types of coworking will be in high demand as people get back to in-person work.
Full story: https://tinyurl.com/2v3ysabu
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