Centrl Office has recently opened its first location in Seattle, taking over a former WeWork space in the historic Kelly-Springfield Building in the Capitol Hill neighborhood. The Portland-based co-working company now has seven locations, including three in Portland and two in Los Angeles. Co-founder Alex Hughes explains that the company is seeing more collaborators who need office space on a flexible basis, rather than committing to long-term leases. Centrl offers a variety of work spaces, including shared work spaces, meeting rooms, and offices available to rent by the day, week, or month, catering to different needs and preferences.
WeWork, which used to have a presence in Seattle, filed for Chapter 11 bankruptcy and has been making moves to hold onto leases at its other locations. Despite WeWork’s struggles, co-working spaces are thriving in Seattle as more employers embrace remote and hybrid work styles. With vacancy rates in the Seattle office market reaching nearly 29% in the second quarter, there is a growing demand for flexible work spaces like those offered by Centrl. The company sees traditional space occupants starting to evaluate more flexible options as their leases end, indicating a shift in the office market landscape.
Centrl has taken all five floors of the redeveloped Kelly-Springfield Building, offering 53,000 square feet of co-working space. The company has also set aside the fourth floor, which was originally planned as a dedicated space for Microsoft, for a traditional lease at 17,000 square feet. The location features a large rooftop deck with panoramic views of the neighborhood and downtown, adding a unique touch to the workspace. In the same block, high-tech indoor golf experience Five Iron Golf and sustainable chicken sandwich startup Mt. Joy have opened their doors, contributing to the vibrant neighborhood atmosphere.
As workers busily assemble furniture and prepare the space for its opening, Centrl is seeing interest from former WeWork members who want to remain in the neighborhood. The company is well-positioned to cater to the evolving needs of the workforce, offering flexible solutions for teams of different sizes and preferences. With the office market in Seattle struggling post-pandemic, there is a greater focus on reducing real estate footprints and embracing flexible work options. Centrl’s entrance into the Seattle market signifies a growing trend towards flexible workspaces and a shift in how companies and individuals approach workspaces and collaboration.
