Serendipity Labs Coworking Continues Expansion In Suburbs And Secondary Markets With Top Office And Retail Asset Owners


Serendipity Labs Coworking Continues Expansion In Suburbs And Secondary Markets With Top Office And Retail Asset Owners

Serving suburban markets and secondary cities by working with building asset owners is a key component of the Serendipity Labs strategy. Westchester One, in downtown White Plains, New York, is part of the Serendipity Labs Tristate Serendipity Labs network. All locations meet premium design standards, offer easy access to amenities and are near major transportation hubs or arteries. (Photo credit: Argent Ventures)

Adds to the national network by entering into management agreements in four new markets

RYE, N.Y., Nov. 13, 2018 – Leading commercial real estate asset owners enter into management contracts with Serendipity Labs to have the company operate and manage its upscale flexible office and coworking solution in their suburban and secondary market properties. The company is today announcing the following new management agreements:

Argent Ventures of New York City will open a 20,000 sq. ft. location on two floors at Westchester One in downtown White Plains, New York in 2Q 2019.

Ciminelli Real Estate Corporation will open a 20,000 sq. ft. Lab in Buffalo, New York in late 2019.

HSA Commercial Real Estate from Chicago will open a 32,000 sq.ft. location at s 11220 W Burleigh Street, Suite 100, in the Mayfair Collection, a mixed-used development in Wauwatosa, Wisconsin (Milwaukee County) in early 2Q 2919.

In addition, Serendipity Labs has a license agreement letter of intent for a location in downtown Cincinnati, Ohio.

“We support the strategic real estate initiatives of our client companies by providing an alternative to long-term leases across their entire business footprint, which is why we are expanding in suburbs and secondary markets along with urban areas,” says John Arenas, chairman and CEO, Serendipity Labs. “Partnering with leading asset owners is one way to assure businesses will have access to an expansive, interconnected network they can trust – wherever their workforce and clients take them.”

“Emerging Trends in Real Estate, United States and Canada 2019,” a new Urban Land Institute (ULI) report, confirms that companies need a flexible office strategy to accommodate the workforce. According to the report, the oldest millennials are now in their mid-to-late thirties, having families and making decisions about where to live. For many, that means moving to suburbs and 18-hour cities, or secondary ones, because they are more livable. It cites the U.S. Census Bureau Report that over 2.6 million people moved from principal cities within metropolitan areas to the suburbs in 2016 and 2017. But unlike previous generations, millennials now want access to mass transit, walkable neighborhoods and, ultimately, employment centers where they live.  

According to Andy Gottesman, CEO of Gottesman Real Estate Partners and the Stamford, Connecticut building owner, a licensing agreement with Serendipity Labs to operate and manage his location is a win-win. “Having a flexible office and event option adds vitality to our complex, is a benefit for our other tenants, and gives us a competitive advantage compared to other building owners.” He goes on to say, “We have doubled in size in two years because Serendipity Labs knows how to run a successful shared office location.”                                                                       

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With 30 locations open and under construction, and over 125 under development, Serendipity Labs is uniquely positioned to serve as a strategic real estate alternative for global enterprises and small companies seeking to grow. The IT platform is configured for contract portability so that memberships can easily be transferred from employee to employee or location to location. It meets security and compliance standards for HIPAA and Sarbanes-Oxley, supports PCI-DSS and GLBA, and can provide usage metrics as well as centralized billing.

Every Serendipity Labs has retail and restaurant amenities close by and is near mass transit or major transportation arteries. Each has wellness rooms, quiet focus rooms that allow for concentration and phone call privacy, is ADA compliant, and has a variety of workstyle settings that can be used throughout the day. Every meeting room has full A/V capabilities with complimentary tech support. Abundant natural light reduces stress and makes the work day inviting. A Lab Café offers coffee, flavored water, fresh fruit and marketplace items. Proprietary company information is protected by a check-in at arrival for members and guests, frosted glass on office fronts, and noise abatement paneling. Staff trained in hospitality assure a professional environment where Duty of Care is as important as the curated art shows and community events.

Serendipity Labs has attracted over $100 million from institutional investors and area development partners to expand its brand and network. The asset owners announced today see flexible workspace as an essential building amenity that gives them a competitive advantage, provides a revenue stream, and through partnering with Serendipity Labs, meets their own upscale brand standards.

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