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Scottsdale Fashion Square owner set to add co-working site

Scottsdale Fashion Square will get a new co-working spot as its owner plans to launch such sites at its properties around the country.

Mall owner Macerich (NYSE: MAC) said this week it was bringing in co-working space Industrious to the upscale Scottsdale mall as part of a national partnership that could see the group land at various properties.

“Macerich is on the cutting edge when it comes to adding exciting, traffic-driving new uses to our market-dominant retail properties across the country,” said Art Coppola, CEO of Macerich, in a statement.

Industrious, which has about 50 locations in 30 cities, will operate sites at an undetermined number of Macerich properties, with Scottsdale being the first. That site is set to open in January 2019.

Information about the size of the project and the lease were not released.

Macerich officials said they chose Industrious as a national partner because of its ability to draw in workers and a commitment to high-end experiences. Industrious has provided workspaces to companies ranging from small businesses to offices of Fortune 500 businesses such as Lyft, Pandora, Pinterest, and Pfizer.

“Our relationship represents a bold step that combines our vision for the future of the workplace with Macerich’s vision for the future of the retail experience, and allows us to jointly deliver superior programming, services, and amenities beginning at Scottsdale Fashion Square,” said Jamie Hodari, CEO of Industrious, in a statement.

Brooklyn, New York-based Industrious opened a co-working spot at 4250 N. Drinkwater Blvd. in Old Town Scottsdale in May. The company planned to have 20,000 square feet of space at that site.

Macerich is in the midst of a multimillion-dollar renovation of Fashion Square’s luxury wing and has been announcing a flurry of new activity at the mall. That includes the opening of three boutique watch shops, a store from Trina Turk, and locations from two online retailers.

 

By Patrick O’Grady – Managing Editor, Phoenix Business Journal