Industrious to Open New Midtown Manhattan Location

Industrious will open a 28,000-square-foot coworking location at Global Holdings’ 875 Third Ave., a 700,000-square-foot office tower in Midtown East Manhattan. The space is scheduled to begin operating in July 2026.

Upon opening, the flex office space will enclose 226 office seats and 26 access seats. Shared amenities will include access to the building’s fitness center, dining area and café.

The office building housing the coworking venue is across the street from the subway station at the corner of Lexington Avenue and East 53rd Street. Industrious’ closest flex location is at 45 E. 53rd St., two blocks west.

The flex office provider will soon open another venue in Midtown, dubbed Reserve at Lever House, at 390 Park Ave. The coworking giant will further expand its presence in Midtown with a 291,600-square-foot venue at Kato International’s Tower 49, set to become the largest single flex office space in the world.

Hybrid work continues to drive growth across the office sector, allowing companies to reduce their costly long-term leases and adapt to the current landscape. Trends across the coworking industry, however, have their own playbook, facing away from experimental moves and turning to strategic ones. As of March 2026, the national coworking footprint reached 164 million square feet, accounting for 2.3 percent of office inventory, according to a recent Yardi Matrix report.

Pinpointing the tower at 875 Third Ave.

Completed in 1982, the 29-story tower at 875 Third Ave. features floorplates measuring 29,750 square feet. Additionally, the LEED Gold-certified property includes 13 passenger elevators and 30,053 square feet of retail space.

The property has been under Global Holdings’ ownership since 2003, when the company paid $361.3 million to BXP Inc. for the asset, the same data provider shows. Alongside Industrious, the tenant roster includes Troutman Pepper Locke—which leases 87,126-square-foot at the property—DWS, Epstein Becker Green and Aetos Capital, according to Yardi Matrix information. The high-rise is currently 97 percent leased.

On a national level, physical occupancy for the office sector stood at roughly 55 percent for the past three years, Kastle’s Back to Work Barometer shows. In that same timeframe, office attendance fluctuated between 66 and 38 percent.

As of March, the average office listing rate in Manhattan clocked in at $69.80 per square foot, marking a 1.1 percent increase year-over-year, maintaining its leading position in the national ranking. Meanwhile, office vacancy in the borough dropped to 13.1 percent during the same month, down 340 basis points compared to the same period in 2025, second only to Miami’s 12.5 percent.