View story at wbjournal.com
By Timothy Doyle
Wolanski CoWork, Inc., a franchise of Venture X, will open a nearly 15,000-square-foot coworking space in downtown Worcester in late summer.
The company signed an 11-year lease for the entire fourth floor at 100 Front St. in Worcester, according to the Mercantile Center’s owner, Franklin Realty Advisors of Wellesley.
The Mercantile Center space will include hi-tech meeting rooms, secure 24/7 access, a members’ café, and lounge, among other amenities.
Florida-based Venture X has 50 locations globally, including at 11 Apex Drive in Marlborough.
“Surrounded by many amenities and with ample parking, Venture X Worcester will provide a full turnkey solution at a premier location in Downtown Worcester,” franchise Owner and President Brandon Wolanski, said in a Wednesday press release. “We have been watching the continued growth and development of downtown Worcester and, specifically, the Mercantile Center properties, and we knew this was the place to bring our co-working experience.”
FRA Managing Director Chip Norton told WBJ the company will fill a need for coworking space in downtown Worcester.
“It’s a perfect fit for Worcester,” said Norton, who anticipates 50 to 100 people per day using the space and bringing more activity to businesses in the Mercantile Center and around downtown.
“It’s tailored to the working world of today,” said Norton. “There is a lot of demand for small users, like people working remotely who want somewhere to go outside of their home.”
Norton foresees startups using the space because they can get one or two adjacent offices and rent a meeting space on site.
The bonus of startups using the space, Norton said, will be they can graduate to local office space, though that space may be hard to come by in his buildings as 98% of 100 Front St. is leased as is 90% of 120 Front St.
Principal William Kelleher of Worcester brokerage Kelleher & Sadowsky Associates represented the landlord and Executive Vice President Philip DeSimone, also of Kelleher & Sadowsky, represented the tenant.