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Tishman Speyer to launch its own co-working venture

Tishman Speyer is launching its own co-working venture in six markets.

Called Studio, it will offer flexible work space ranging from $450 desks to $22,500 a month for 30 desks.

On November 1, the company will open Studio at Rockefeller Center, at 600 5th Avenue, in a 35,000 s/f Tishman Speyer already expects to grow as a result of initial demand.

It will then roll out other Studio co-working spaces in Boston, MA, Washington DC, Chicago, IL; Los Angeles, CA and Frankfurt, Germany.

THAIS GALLI

“We’ve seen great demand for flexible office space from our enterprise clients and prospective tenants and we understand the importance of agility and the need for companies of all sizes to be able to move quickly and scale as needed,” said Thais Galli, senior director of innovation at Tishman Speyer.

“Based on the overwhelming response to Studio at Rockefeller Center we’re confident this is going to be a successful offering in all our locations.”

Studio at Rockefeller Center’s office features flexible space, including “hot desks,” private offices of varying sizes, conference rooms, lounges, semi-private areas for meetings and high tech solutions.

Tenants will have access to Zo, an on-demand suite of amenities created by Tishman Speyer, including the Clubhouse by ZO at One Rockefeller Plaza.

Zo offerings include wellness programs, backup child care, on-site health screenings and medical services, travel planning, community volunteer engagement, personal grooming, rideshares, human resources services, food and catering, and more.

Tishman Speyer is the latest big landlord to get on the co-working bandwagon as the sector enjoys record growth.

Silverstein Properties has its own Silver Suites venture while RXR has partnered with Convene to open flexible offices spaces in New York City.

Blackstone, the largest real estate private equity firm in the world, bought the UK’s Office Group, one of the largest co-working and shared spaces brands in Europe. That deal valued the co-working brand at $640 million and gave it a financial injection to expand worldwide.

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