Photo: Parkway, Photographer / Mabry Campbell
Parkway Properties Investments will add a new option for entrepreneurs and companies needing room for projects when Spaces opens at its Post Oak Central complex late next year.
The coworking provider has signed a 53,000-square-foot lease at Two Post Oak Central, 1980 Post Oak Blvd. The company will occupy the first three floors of the 24-story building in the fourth quarter of 2019.
Spaces will take over some space currently occupied by Stewart Title, which will relocate to space it subleases from BHP Billiton.
“We actually like coworking on the bottom of the building. It was appealing to them and us,” Parkway chief operating officer Mike Fransen said. “They’re going to have some private outdoor space, which is very popular with coworking.”
The offices will be built out with a reception area and internal stairwell on the first floor, numerous meeting areas for members and a 1,700-square-foot private terrace.
Spaces, which got its start in Amsterdam 10 years ago, is part of IWG, along with Regus and other office space provider brands. The company recently entered the Houston market at Midway’s Kirby Grove building in the Upper Kirby District and has two other locations in the Dallas area. The new location will replace a Regus at Post Oak Central.
Members have access to more than 3,000 locations worldwide, as well as business events, speakers and networking activities.
The flexible working environment is designed to appeal to startups and entrepreneurs who have changing space needs and benefit from being around other businesses.
“Whenever we consider a new location, we prioritize the things most important to our members — a dynamic neighborhood, convenient transportation and robust amenities,” IWG vice president of network development Michael Berretta said in an announcement. “The Post Oak Central location fit all the criteria and was an ideal spot for our next Houston opening.”
Parkway offers coworking at many of its properties, including TechSpace at its CityWestPlace campus in west Houston. Such spaces provide support for existing building tenants who may need extra space as projects arise, Fransen said.
Spaces joins other coworking companies setting up shop in the Galleria area. New York-based WeWork made its Houston debut on three floors of an office tower at 2700 Post Oak Blvd. in the Galleria last year. Austin-based FirmSpace plans to open at nearby 2200 Post Oak Blvd. next year.
Parkway’s Amanda Nebel and Eric Siegrist represented the landlord, while Kevin Saxe, Kevin Kushner and Mike Cleary of CBRE represented Spaces in the lease.
“The addition of this offering responds to a key Parkway objective: to provide active and engaging work environments that maximize flexibility, efficiency and productivity for users of all sizes,” said Nebel, Post Oak Central’s leasing manager. “We’re proud to welcome an industry innovator to a dynamic and convenience-oriented location.”
East of Greenway Plaza, Midway’s own management offices are in Spaces at Kirby Grove. The Houston-based developer moved in after leasing out its own offices in the mixed-use building bordering Levy Park to another tenant, senior vice president Ann Taylor said. She added that Midway is looking at other opportunities to work Spaces.
Built in 1982, Post Oak Central has a conference center, fitness center, restaurants and a child care center. The 17-acre campus has three office towers totaling 1.2 million square feet.