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Hines Launches Coworking Initiative

Hines will create a coworking facility in the 717 Avenue building in downtown Houston

HOUSTON – (Realty News Report) – Hines is launching a coworking initiative, called Hines²  (Hines Squared) to meet the demand for flexible office space.

The coworking service will be introduced at the 33-story 717 Texas building in downtown Houston and the 167,000-SF Kearns Building in Salt Lake City.

Hines said the program will be rolled out in Atlanta, Boston, Denver, New York and Washington, DC. Future expansion could span markets in Europe and South America.

Hines President and CEO Jeff Hines, explained, “Hines is a premium service provider with a deep focus on providing the highest level of customer service and a genuine care for our tenants and their interests. Given the breadth and quality of our global portfolio and operating platform, Hines has the potential to be a leading provider in this space.”

Industrious, the largest premium flexible workspace provider in the U.S., was selected as an operating partner after a lengthy and intensive vetting process across the coworking industry. Industrious will operate both Hines² spaces with future projects across the Hines portfolio already in the pipeline. Hines is also pursuing opportunities with its other preferred partner, Convene, which will operate sites that include full-service meeting and event management.

“The Square is a direct response to the changing needs of our current and future building tenants, our core customers,” said Hines Innovation Officer Charlie Kuntz. “Hines has a 60+ year track record of providing superior space and service, and flexible workspace and office hospitality are a logical progression for us. Partnering with Industrious will accelerate that progression while maintaining our high level of service.”

Industrious is the largest premium flexible workspace provider in the U.S. with over 80 locations across more than 40 U.S. cities.

“Over the past six years, we’ve been laser-focused on understanding the evolving needs of the modern occupier and developing workspaces that fit their needs,” said Jamie Hodari, CEO and co-founder of Industrious.

The 717 Texas Avenue building, where The Square will be unveiled, is a 697,195-SF tower adjacent to the Lancaster Hotel, a boutique hospitality property. The office tower, designed by HOK and completed in 2003, sits on a block bounded by Texas Avenue, Milam, Prairie, and Louisiana.

The 717 Texas building, formerly known as Calpine Center, is across the street from the new Texas Tower building, a 1 million-SF structure being developed by Hines in the 800 block of Texas Avenue.

When the Texas Tower is completed in a couple of years, the Hines organization will move its headquarters there.

July 8, 2019 Realty News Report Copyright 2019

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