The Bowen Constructing. Picture courtesy of CommercialEdge
Hines will open a coworking location in downtown Washington, D.C., via The Sq., the corporate’s versatile workspace platform. The agency will occupy the area on the historic Bowen Constructing owned and managed by JPMorgan Chase. The placement is slated to return on-line this fall and is already 20 p.c pre-leased.
The flex workplace area will embody 30 workplaces and three suites, accommodating a complete of 225 folks. It should function non-public suites for groups of greater than 25 folks and enclosed customizable workplaces for teams of as much as 75 people, together with shared workspaces. The suites may have non-public facilities resembling kitchenettes, printer stations and convention rooms.
The Bowen Constructing rises 12 tales and includes 231,000 sq. toes. It was initially inbuilt 1922 and most not too long ago underwent renovations, quickly after JPMorgan’s acquisition in 2018. The property is positioned at 875 fifteenth St., on the nook of McPherson Sq. and is inside strolling distance of Lafayette Sq..
This location shall be Hines’ fifth versatile workspace worldwide and the fourth within the U.S., the corporate working areas in Houston, Salt Lake Metropolis and Mexico Metropolis.
Exercise in Washington, D.C.’s coworking market began to say no within the fourth quarter of 2022, lagging different vital gateway markets, as proven by a latest market replace. Massive operators are nonetheless making investments within the metropolis, Industrious having not too long ago opened its seventh location within the metro.
